Cipla to Increase Stake in GoApptiv to 22.02% with INR 25.90 Crore Investment

27 Jul 2023 , 11:44 AM

Cipla Limited has agreed to acquire additional stake worth INR 25.90 crore in digital tech company GoApptiv Private Limited. Post completion of the deal, Cipla’s total stake in GoApptiv will increase to 22.02% on a fully diluted basis.

The investment will be made in equity shares and Compulsorily Convertible Preference Shares. The deal is expected to be completed within 30 days or as mutually agreed upon by the parties, subject to necessary closing conditions.

Cipla’s earlier investment in GoApptiv in June 2020 proved successful in expanding the company’s channel reach across lower-tier towns in India. Umang Vohra, MD, and Global CEO of Cipla Limited, emphasized that the investment would strengthen their partnership with GoApptiv, enabling wider patient reach with affordable and quality drugs.

GoApptiv is a digital tech company offering digital solutions to pharmaceutical companies for increasing patient reach. The company provides end-to-end business solutions, including distribution, digital marketing, patient support, healthcare data analytics, and channel engagement for healthcare companies.

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