Cipla Completes 20% Stake Acquisition in iCaltech Innovations

28 Aug 2025 , 12:31 PM

Cipla Ltd on Tuesday said it has closed the acquisition of a 20% stake in Bengaluru-based iCaltech Innovations Pvt Ltd, marking a strategic step to deepen its presence in respiratory care and diagnostics.

The drugmaker had first announced the deal on July 21, stating it would invest around ₹5 crore through optionally convertible preference shares and one equity share to secure the minority holding. With the transaction now complete, Cipla holds 20% voting rights in the privately held device maker, according to its stock exchange filing. Following the news, Cipla shares are trading at ₹1,578 at 12:29 pm. This is a 0.063% dip on August 28, 2025.

iCaltech, an ISO 13485-certified medical device company, is engaged in the design, development and commercialisation of diagnostic products with a strong focus on respiratory applications. Despite Cipla’s investment, the company will continue to operate independently.

Cipla said the partnership is aimed at developing integrated healthcare solutions, combining its pharmaceutical expertise with iCaltech’s device technologies to deliver stronger offerings in respiratory care. Financially, iCaltech has been scaling up its business steadily, posting ₹6.7 crore in revenue in FY25, compared with ₹4.19 crore in FY24 and ₹1.28 crore in FY23.

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