PE-VC Fund Investments
Cipla buys 20% stake in med devices co. iCaltech for Rs.5-Cr
Listed drugs maker Cipla is to acquire a 20% stake in Bengaluru-based iCaltech Innovations , through an investment of INR 5 crore in 1,50,820 optionally convertible preference shares and one equity share (both of face value of INR 10 each).Founded in 2016, iCaltech is an ISO 13485 certified medical device company engaged in the design, development, manufacturing, and commercialisation of diagnostic products, with a core focus on respiratory applications. For FY24, the company had recorded turnover of INR 6.70 crore.
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