Other Private Equity/Strategic Investments
Singapore’s Telexcell Trade to acquire 25% in Welcure Drugs for Rs.52-Cr
BSE Announcement Economic Times
Singapore-based Telexcell Trade is to acquire a 25% equity stake in Ahmedabad-based Welcure Drugs & Pharmaceuticals for INR 52 crore in an all-cash deal, at a price of about INR 20 per share.Welcure plans to raise INR 70-80 crore via Qualified Institutional Placement (QIP) to invest in establishing an agro-pharma research laboratory.Founded in 1992, Welcure is engaged in the manufacturing and marketing of a range of pharmaceutical formulations. It also offers sustainable farming solutions to farmers.
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