PE Fund Investments
Convergent Finance to acquire 43.7% stake in Jagsonpal Pharma for Rs.269-Cr
Convergent Finance, via Infinity Investment Management, is to acquire a 43.7% stake in New Delhi-based, publicly-listed Jagsonpal Pharmaceuticals Ltd for INR 269 crore (USD 36 million). It will pick up the shares at INR 235 apiece. The transaction will trigger a mandatory open offer for an additional 26% of the outstanding share, which will be managed by. Centrum. Founded in 1964 by Jagmohan Singh Kochhar, Jagsonpal operates in the domestic formulations business and has been publicly traded since 1986.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
