Outcome of Board meeting
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Medico Intercontinental Ltd's board, at a meeting on April 7, 2025, approved an investment of approximately ₹5.93 crores into Calborn Lifescience Private Limited, a pharma company that manufactures drugs and pharmaceutical intermediates. The investment will be made in cash through banking channels, upfront or in tranches within 3 months, at ₹130 per share (including ₹120 premium). Upon full investment, Medico will hold a 51% stake (19,78,072 shares), making Calborn a subsidiary company. Calborn reported a turnover of around ₹4.41 crores in FY25, up from ₹1.30 crores in FY24. The investment is not a related party transaction and is aimed at expanding Medico's presence in the pharmaceutical and allied sector.
This is a strategic acquisition that gives the listed company a majority stake in a growing pharma business, likely to be viewed positively as it expands Medico's footprint in the pharma sector. Investors should note the target is relatively small with modest turnover but has shown strong revenue growth, so the subsidiary could contribute meaningfully once integrated.