Granules India enters agreement to divest entire stake in JV Granules-Biocause Pharmaceutical

Granules India has entered into an agreement with Hubei Biocause Heilen Pharmaceutical Co., Joint Venture Partner for sale of 33,000,000 equity shares of 1 RMB each fully paid-up held by the Company in overseas JV company, Granules-Biocause Pharmaceutical Co. situated in China for a consideration of RMB 109 million. Conclusion of this transaction is subject to fulfilment of certain closing conditions as well as applicable regulatory approvals.

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