Laurus Labs hikes its stake in Richcore Lifesciences (subsidiary)

Laurus Labs has acquired 10,483 equity shares of Rs. 10/- each from the Promoters of Richcore Lifesciences (Richcore) (a subsidiary company) on 10 February 2021.

Further, 7,765 share warrants, which shall be convertible into equal number of equity shares within a period of 3 years, have been issued by the Board of Directors of Richcore to the Promoters of Richcore in its meeting held on 10 February 2021.

Pursuant to the above changes, the stake of the Company in Richcore Lifesciences shall stand at 74.37% on fully diluted basis (including outstanding ESOPs and the above Share Warrants).

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