Granules India Ltd. on Tuesday said it has divested its entire stake in Granules-Biocause Pharmaceutical Co. Ltd., a joint venture company located in China.
Last year, Granules India had intimated about the divestment of the entire stake of the JV company for a total consideration of 109 million renminbi (around Rs 110.8 crore).
"The transaction is completed and Granules-Biocause Pharmaceutical Co Limited ceased to be the joint venture company of Granules India Ltd.," Granules India said in a regulatory filing.
Shares of Granules India Ltd. were trading at Rs 146 a piece on BSE, up 0.41 percent from the previous close.
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