Shares of Piramal Pharma Ltd. jumped 3% in trade on Tuesday, Aug. 18 after the global pharmaceutical major announced that it has completed the acquisition of an additional 40.67% equity stake in Yapan Bio Pvt. Ltd., a contract development and manufacturing organization (CDMO) specializing in vaccines and biologics. The transaction, valued at Rs 76 crore, transitions Yapan Bio from an associate company to a subsidiary of Piramal Pharma, with the latter's stake rising from 33.33% to 74.00%.
On Tuesday, shares of Piramal Pharma opened at Rs 200.10 and gained over 3% to hit an intraday high of Rs 210.77 apiece on the NSE. The stock last traded 2.65% higher at Rs 210.15 apiece on the NSE. This compares to a decline of 0.29% in the Nifty 50 benchmark. The stock has delivered 17% returns in one month, 24% on a year-to-date basis, and 9% in the last one year. The Mumbai-based pharma giant commands a market cap of Rs 27,945.00 crore, according to NSE data.
Piramal Pharma Share Price Intraday
Piramal Pharma acquires additional 40.67% shareholding in Yapan Bio to gain majority stake
With the latest deal, Piramal Pharma's shareholding in Yapan Bio has increased from 33.33% to 74.00%. The acquisition was completed for a cash consideration of approximately Rs 76 crore for 1,46,400 equity shares of Rs 10 each. ''We wish to inform you that the company has completed the acquisition of 1,46,400 equity shares of Rs 10 each of Yapan from its existing shareholders for an aggregate cash consideration of approximately Rs 76 crore. Pursuant to the acquisition, the company's shareholding in Yapan has increased from 33.33% to 74.00% of the equity share capital of Yapan,'' said Piramal Pharma.
''Consequent to the above acquisition, Yapan has ceased to be an associate company and has become a subsidiary of the company. The promoter / promoter group of the company is deemed to be indirectly interested in Yapan through the company's investment therein. Yapan, incorporated on Oct. 11, 2019, under the provisions of Companies Act, 2013, is a CDMO, specializing in process development, characterization and Phase I/II GMP manufacturing services for vaccines and biologics,'' said Piramal Pharma in its regulatory filing to the stock exchanges.
Yapan Bio's revenue from operations for FY2024, FY2025 and FY2026 was Rs 26.91 crore, Rs 54.40 crore and Rs 26.34 crore, respectively. ''With this acquisition, Piramal Pharma will fully embed Yapan's advanced large molecule capabilities into its integrated service offering, enabling the company to develop and scale complex biologic therapies,'' it added.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
