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Board of Ipca Laboratories approves acquisition of 26.57% in Lyka Labs

Capital Market 

At meeting held on 24 November 2021

The Board of Ipca Laboratories at its meeting held on 24 November 2021 has approved the acquisition of 26.574% of the paid-up share capital of Lyka Labs and entering into a Joint Management Control Agreement with the Promoters of the said company.

Lyka Labs is a company incorporated in the year 1976 under Companies Act, 1956 and is engaged in the business of manufacturing and marketing of injectables, lyophilized injectables and topical formulations.

Consequent to this acquisition of shares, the Company has also, made a public announcement to acquire 26% additional equity shares of the said company from its public shareholders under the SEBI (SAST) Regulations, 2011.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 24 2021. 09:06 IST