Sun Pharma acquires 26.09% stake in Agatsa Software, 27.39% in Remidio Innovative Solutions
1 min read . Updated: 19 Feb 2023, 10:13 AM IST
Premium- The acquisition of Agatsa Software will be made in two tranches wherein Tranche 1 -- ₹8 crore -- would be completed in February 2023 and Tranche 2 -- up to ₹22 crore -- is expected to be completed by August 2023
Drug major Sun Pharma has announced that it has acquired a 26.09% stake in Agatsa Software Private Limited, which is in an early-stage digital diagnostic devices company, for ₹30 crore in two tranches.
The acquisition will be made in two tranches wherein Tranche 1 -- ₹8 crore -- would be completed in February 2023 and Tranche 2 -- up to ₹22 crore -- is expected to be completed by August 2023, subject to certain conditions, the company said in a filing.
The Mumbai-based company has also acquired 27.39% of Remidio Innovative Solutions Private Limited, which provides innovative products enabling early detection of eye diseases, for ₹149.9 crore.
Meanwhile, Sun Pharmaceutical Industries has reported a consolidated net profit at ₹2,166 crore for Q3 FY23. The firm's revenue from operations came in at ₹11,241 crore for the period under review.
The company has reported an EBITDA or earnings before interst, tax, depreciation and amortisation at ₹3,003.7 crore, with margins at 26.7%.
Sun Pharma's board of directors has also declared an interim dividend of ₹7.50 for the financial year ending on 31 March this year.
The interim dividend shall be paid to the equity shareholders of the company whose names appear on the Register of Members as on 8 February, 2023 which is the record date fixed for this purpose, the company announced.