Astonea Labs Limited Acquires Stake in Damaira Pharmaceuticals

Astonea Labs Limited Acquires Stake in Damaira Pharmaceuticals​

Astonea Labs Limited announced it has acquired approximately 25.74% of the issued, subscribed, and paid-up equity share capital of Damaira Pharmaceuticals Private Limited. The acquisition involved an aggregate amount of INR 6.25 Crores, utilized from funds raised through a variation in the Initial Public Offer (IPO) objects.

The Board of Directors of Astonea Labs Limited had previously approved the acquisition on December 03, 2025, with shareholder approval received at the Annual General Meeting on December 27, 2025. A variation in the IPO objects, including the acquisition of equity stake in Damaira Pharmaceuticals, was subsequently approved by shareholders on March 27, 2026.

Mr. Hitesh Jhamb of M/s Jhamb & Associates, an independent registered valuer, determined the fair value of Damaira Pharmaceuticals’ equity shares using the Net Asset Value (NAV) method under the Cost Approach.

Astonea Labs Limited acquired 52,00,000 equity shares of Damaira Pharmaceuticals, having a face value of INR 10 each, at an issue price of INR 12.02 per share, including a face value of INR 10.00 and a premium of INR 2.02.

Key Details of Damaira Pharmaceuticals Private Limited:


The acquisition is intended to expand Astonea Labs' footprint in the pharmaceutical sector and strengthen its business operations. No governmental or regulatory approvals were required for the acquisition.

Source:​