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Specialty chemicals maker Anupam Rasayan India has signed an agreement to acquire up to 43.3 per cent stake in pharmaceutical formulations company Bliss GVS Pharma Ltd for an estimated Rs 1,369.51 crore and launch an open offer to acquire a further 26 per cent in the firm, according to a statement The Surat-based company will acquire a 43.3 per cent stake at Rs 299 per share for Rs 1,369.51 crore, and launch a mandatory open offer for an additional 26 per cent from public shareholders at the same price, Anupam Rasayan said in a late-night regulatory filing. "We have entered into a definitive agreement to acquire 43.3-48.2 per cent equity stake and are making an open offer to the public shareholders of Bliss GVS Pharma," Anupam Rasayan India Managing Director Anand Desai said. The acquisition will be funded through a Rs 300 crore term loan, with the remaining amount financed via a non-controlling, non-voting equity instrument. "This will strategically strengthen our presence across
The major business growth drivers for data analytics and artificial intelligence player Qlik are the government sector, Banking, Financial Services, and Insurance (BFSI), and pharma, according to the US-based firm's Managing Director (India), Varun Babbar. "We see a lot of initiatives by various state governments as well as central governments where they are revamping their whole data ecosystem and building the right data foundations to build AI-driven projects," Babbar told PTI. Banking and financial services have been early adopters of technology, and they were the first ones to build data warehouses and data lakes, he said, adding that there is a lot of innovation being done by them. Besides, he said, pharma is another vertical where a lot of traction is taking place. On the government side, he said, the company is working with three states apart from various public sector companies, including Indian Oil Corporation. "We see a lot of initiatives built by various state governmen
Global investment firm Bain Capital has divested nearly a 1 per cent stake in Emcure Pharmaceuticals for over Rs 289 crore through open market transactions, according to the block deal data on the NSE. Following the stake sale, shares of Emcure Pharmaceuticals fell 2.31 per cent to trade at Rs 1,690 apiece on the National Stock Exchange (NSE). US-based Bain Capital, through its affiliate BC Investments IV Ltd, offloaded 18 lakh shares, or a 0.95 per cent stake in Pune-based Emcure on Wednesday. The shares were sold at an average price of Rs 1,608.20 apiece, taking the transaction value to Rs 289.47 crore. After the latest transaction, BC Investments IV's holding in Emcure has declined to 2.93 per cent from 3.87 per cent. Meanwhile, Norway's Government Pension Fund Global bought the same number of shares at the same price. The Norwegian Fund is the world's largest sovereign wealth fund. In February this year, Emcure Pharmaceuticals posted a 48 per cent year-on-year increase in it