Piramal Pharma Limited Exercises Call Option to Boost Stake in Yapan Bio, Seeks Subsidiary Status
Piramal Pharma Limited has initiated a strategic move to substantially increase its ownership stake in Yapan Bio Private Limited, an associate company. The company has exercised a call option with the aim of acquiring an additional equity shareholding in Yapan.The Proposed Transaction is set to elevate Piramal Pharma’s holding in Yapan from the existing 33.33% to approximately 74%. Upon the completion of the acquisition, Yapan Bio Private Limited will become a subsidiary of Piramal Pharma Limited.
Piramal Pharma is currently engaged in discussions with Yapan's promoters and shareholders regarding various aspects required for consummating the transaction. The company confirmed that the final terms of the acquisition, including the effective date of share transfer and the consideration amount, have yet to be finalized.
Yapan Bio Private Limited operates as a Contract Development and Manufacturing Organization (CDMO). It specializes in process development, characterization, and Phase I/II GMP manufacturing services for vaccines and biologics.
PPLPHARMA Stock Price Movement
Piramal Pharma Limited shares surged today, closing at ₹213.61 after rallying 2.26%, or a gain of ₹4.74. The stock settled near its daily highs, reflecting the positive trend as nearly 9 million shares were traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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