Indoco Remedies Limited has informed the Exchange about Completion of transfer of its Ophthalmic Division to Sunways (India) Private Limited
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Indoco Remedies has completed the sale and transfer of its Ophthalmic Division to Sunways (India) Private Limited as a going concern on a slump sale basis. The transfer was executed on May 18, 2026, following the approval and execution of an Agreement to Transfer Business (ATB) dated April 30, 2026. The deal covers operations across India and 15 African countries including Benin, Kenya, Tanzania, Zimbabwe, and others. All conditions precedent specified in the ATB were fulfilled prior to completion.
The completion marks the successful exit of Indoco Remedies from its ophthalmic business segment. Shareholders should note this is a strategic portfolio restructuring rather than a distress sale, as conditions were fully satisfied before completion.