Intimation regarding completion of transfer of Ophthalmic Division of the Company to Sunways (India) Private Limited
INDOCO · price
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Indoco Remedies has completed the sale and transfer of its Ophthalmic Division to Sunways (India) Private Limited on May 18, 2026. The transfer was executed as a slump sale on a going concern basis. The deal covers operations in India as well as 16 African countries including Kenya, Tanzania, Zimbabwe, and others. This follows the earlier approval and agreement dated April 30, 2026, with all conditions precedent now fulfilled. The transaction marks Indoco's exit from the ophthalmic drugs and products business.
Shareholders should note that this represents a significant divestment of a business segment, which may affect the company's future revenue composition and growth trajectory. The completion eliminates uncertainty around the deal but raises questions about how the proceeds will be utilized.