Drug firm Cadila Healthcare today said it will acquire 51 per cent stake in Windlass Healthcare for Rs 155.55 crore.
The deal does not constitute related party transaction, the company said in a BSE filing.
"Objective of this investment is to expand pharma manufacturing footprint," Cadila said.
As per the filing, the company has entered into an agreement to acquire 51 per cent share capital of Windlass Healthcare Pvt Ltd.
The cost of acquisition is Rs 155.55 crore and it will be completed by end of September 2018, it added.
Cadila stock closed 5.83 per cent down at Rs 354.55 on BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
