Vishnu Chemicals Limited announced today its acquisition of Jayansree Pharma Private Limited (JPPL) for an enterprise value of ₹51,99,83,923. The company’s board of directors approved the acquisition on August 19, 2024, and a share purchase agreement was signed with JPPL and its shareholders. The shares of Vishnu Chemicals Limited were trading at ₹443.60, up by ₹4.25 or 0.97 per cent, on the NSE at 2:20 pm on Monday. Vishnu Chemicals will acquire 100 per cent of JPPL’s shares within the next three months. JPPL, incorporated in 2014, operates in the chemicals industry and reported a turnover of ₹29.54 crore for the financial year 2022-23. The acquisition aims to expand Vishnu Chemicals’ specialty chemicals manufacturing capabilities. JPPL will align its operations with the business focus of its new parent company.This transaction does not fall under related party transactions and requires no government or regulatory approvals. Vishnu Chemicals will finance the acquisition through cash consideration. SHARE
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https://www.thehindubusinessline.com/markets/vishnu-chemicals-acquires-jayansree-pharma-in-52-crore-deal/article68542253.ece
