Laurus Labs Limited has informed the Exchange about Updates on Acquisition
LAURUSLABS · price
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Laurus Labs has invested approximately INR 39.99 crores in its subsidiary Laurus Bio Private Limited by acquiring 15,414 Series A2 Compulsorily Convertible Preference Shares. The shares were allotted at a face value of INR 100 with a premium of INR 25,850.02 per share via a Private Placement cum Preferential Allotment. This is a continuation of the company's earlier intimation dated December 6, 2024 regarding its investment plans in Laurus Bio, which focuses on the bio-pharmaceutical space. The investment strengthens Laurus Labs' position in its subsidiary and supports the growth of Laurus Bio's business operations.
This is a follow-on capital infusion into an existing subsidiary rather than a new acquisition, so it is unlikely to cause major stock price movement. Shareholders should view it as a routine internal funding step supporting the growth of Laurus Bio's bio-pharma business.