Granules India divests entire stake in Granules-Biocause Pharmaceutical

Granules India Ltd on Tuesday said it has divested its entire stake in Granules-Biocause Pharmaceutical Co Limited, a joint venture company located in China.

Last year, Granules India had intimated about the divestment of the entire stake of the JV company for a total consideration of RMB 109 million (around Rs 110.8 crore).

"... the transaction is completed and Granules-Biocause Pharmaceutical Co Limited ceased to be the joint venture company of Granules India Limited," Granules India said in a regulatory filing.

Shares of Granules India Ltd were trading at Rs 146 a piece on BSE, up 0.41 per cent from the previous close.