Board of Aurobindo Pharma approves transfer of API Non-Antibiotic Division to subsidiary
At meeting held on 09 February 2023
The Board of Aurobindo Pharma at its meeting held on 09 February 2023 has approved the transfer of units constituting API Non-Antibiotic Division of the Company to Auro Pharma India, a wholly owned subsidiary of the Company by way of slump sale through a Business Transfer Agreement(s) for a lumpsum consideration of Rs 3303.17 crore.The completion of the sale is estimated in the first/ second quarter of FY 2023-24. The slump sale(s) shall be effective from 01 April 2023 onwards.
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First Published: Feb 10 2023 | 10:01 AM IST