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Business Standard

Aurobindo to acquire remaining 49% stake in GLS Pharma for Rs 22.5 crore

Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary. The company has entered into a binding agreement on September 18, 2024, with GLS Pharma Ltd and its promoters for acquisition of remaining 5,90,361 equity shares of Rs 10 each amounting to 49 per cent stake for a purchase consideration of Rs 22.5 crore. The shares are being acquired at a price of Rs 381.12 per share, Aurobindo Pharma said in a regulatory filing. "This acquisition is undertaken to hold the entire ownership of GLS by the company," it said, adding that the transaction is estimated to be completed before December 31, 2024. Aurobindo acquired a 51 per cent stake in GLS Pharma from promoters Suresh Pathak and his family members on June 17, 2022. GLS is engaged in oncology products, which include orals and injectables used in chemotherapy for solid malignancies, chemotherapy for hematological malignancies an

The Economic Times

Aurobindo to acquire 49 pc stake in GLS Pharma for Rs 22.5 cr

Aurobindo Pharma Ltd will acquire the remaining 49% stake in GLS Pharma Ltd for Rs 22.5 crore, making it a wholly-owned subsidiary. The acquisition of 5,90,361 equity shares is expected to be completed by December 31, 2024. GLS Pharma specializes in oncology products, including chemotherapy treatments.

The Economic Times

Aurobindo to acquire 49% stake in GLS Pharma for Rs 22.5 crore

Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary.

Business Standard

Globus Spirits Ltd leads gainers in 'A' group

Triveni Engineering and Industries Ltd, Shree Renuka Sugars Ltd, Patel Engineering Ltd and Glenmark Life Sciences Ltd are among the other gainers in the BSE's 'A' group today, 30 August 2024.

Business Line

Glenmark Life Sciences dips on Glenmark Pharma’s plan to exit

Development comes about 10 months after Glenmark Pharma sold 75 percent stake in GLS to Nirma

Business Standard

Glenmark Pharmaceuticals to sell 7.84% stake in Glenmark Life Sciences

The specific price and date of the offer for sale will likely be announced in the future

Business Standard

Carmaker Mercedes-Benz India posts record half-yearly sales at 9,262 units

German luxury carmaker Mercedes-Benz on Monday reported a 9 per cent growth in sales at 9,262 units in India in the first half of 2024, its highest ever half-yearly sales in the country, riding on strong demand across categories and availability of volume models. The company had posted sales of 8,528 units in the January-June period of 2023, which was its previous highest half-yearly sales, Mercedes-Benz India said in a statement. It plans to launch six new products in the second half (H2) of 2024. SUV penetration was at 55 per cent in H1 2024, while the TEV (top-end vehicle) segment priced above Rs 1.5 crore comprised 25 per cent of total sales, it added. The SUV segment saw robust performance from the GLA, GLC, GLE and GLS models, while the sedan portfolio comprising the A-Class, C-Class, outgoing LWB E-Class and S-Class topped customer preference for luxury sedans, it added. The BEV (battery electric vehicle) portfolio grew by 60 per cent in H1 24, comprising 5 per cent of tota