M&A

M&A

Aurobindo Pharma to buy domestic formulation biz of Veritaz for Rs.171-Cr

BSE Disclosure  

Publicly listed Aurobindo Pharma is to acquire the domestic formulation business of fellow Hyderabad-based Veritaz Healthcare Ltd for INR 171 crore in cash. Veritaz sells branded generic formulations and other health care related products. Anti-infective and pain management are the major portfolios of Veritaz. It generated a turnover of INR 127 crore in FY21 at a CAGR of 3.4% in previous 3 years. For FY22 (upto December 2021) Veritaz generated a revenue of INR 133.2 crore, a growth of 4.9%. Veritaz is a 100% subsidiary ofTrident Chemphar Limited which is owned by RPR Enterprises. The valuation of the business has been done by RBSA Capital Advisors LLP and PwC Business Consulting Services LLP. Legal diligence has been done by Khaitan & Co. The lower of the business valuation has been considered for the purpose of arriving at the sale consideration.