Aurobindo Pharma completes acquisition of 51% stake in GLS Pharma; Stock rises

18 Aug 2022 , 01:46 PM

Aurobindo Pharma Limited informed to the exchanges regarding completion of acquisition of 51% stake in GLS Pharma Limited.

As per the filing, the pharma company earlier informed that the Board of Directors at its meeting held on June 17, 2022, has approved the acquisition of 51% equity shares in GLS Pharma Limited, operating in oncology business and having manufacturing facility in Hyderabad for a total consideration of Rs28.05 crore.

In this regard, if further informed that the company has completed the aforesaid acquisition of 51 % of equity share capital of GLS Pharma Limited on August 17, 2022 and it has now become the subsidiary of Aurobindo Pharma.

At around 1:46 PM, Aurobindo Pharma Ltd was trading at Rs584.05 per share up by Rs3.65 or 0.63% from its previous closing of Rs580.40 per share on the BSE.