Ipca Laboratories has signed an agreement with Avik Pharmaceuticals, which is an unlisted privately held company. The former will acquire 50 per cent stake in the latter. According to a filing by Ipca Laboratories to the Bombay Stock Exchange, the company has entered into an agreement with Avik Pharmaceuticals to acquire 50 per cent of its paid-up equity share capital, partly through purchase of equity shares from its existing shareholders and partly through subscription to its fresh equity share capital on a preferential allotment basis, both aggregating to approximately Rs 6.51 crores.
EP News Bureau – Mumbai