Cipla to invest Rs 26 cr in digital tech co GoApptiv to raise stake to 22% ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 44
Pharma company Cipla has agreed to acquire an additional stake for nearly Rs 26 crore in digital tech company GoApptiv Private to raise its shareholding to 22.02 per cent, the company said on Monday. The investment will be made in equity shares and Compulsorily Convertible Preference Shares and is likely to be completed within 30 days or such other date mutually agreed between the parties, Cipla said in a regulatory filing. Cipla's earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla's channel reach across lower tier towns in India. "This investment will further strengthen our partnership with GoApptiv enabling wider patient reach with affordable and quality drug

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