Ipca Labs set to acquire Unichem promoter's stake for over ₹ 1,034 cr

The Mumbai-based Ipca will also make an open offer to the public equity shareholders of Unichem to acquire from them upto 26% of the fully diluted outstanding equity share capital at a price ₹ 440/- per share for ₹805.44 crore. The transactions are subject to approval of the Competition Commis-sion of India and other approvals. Ipca said the acquisition will be funded from the company's retained earnings, and the business and product range of lpca and that of Unichem are complementary.

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