Ipca Labs starts open offer for Krebs Biochemicals

With an intention to buy a majority stake in Hyderabad-based Krebs Biochemicals and Industries Limited (KBIL), Ipca Laboratories Limited will start its open offer today to acquire the mandatory 26 per cent shares from the public shareholders of the target company.
 
In February this year, Ipca had bought 18.92 per cent of the total paid-up equity share capital of Krebs Biochemicals from its promoters, which resulted in bringing down the promoters’ shareholding to 29.41 per cent from 48.33 per cent.
 
The acquisition of Krebs Biochemicals, which has expertise in chemical synthesis, fermentation and enzymatic technologies besides owning two US FDA facilities in Visakhapatnam and Nellore districts, is expected to bolster Ipca Labs capabilities. Krebs’ bio-fermentation facilities along with its biopharmaceutical products, including Ephedrines, would help Ipca enter an all-new segment if it gets the management control.
 
FOR COMPLETE REPORT READ: Krebs Bio zooms ahead of Ipca Labs open offer