In continuation of the Company''s disclosure dated 16/Jan/2025 regarding approval of the Board to acquire 300 shares of AED 1000/- each of M/s. Cibachem General Trading LLC, Dubai pursuant ....
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Sudarshan Pharma has completed the acquisition of 100% stake (300 equity shares) in Cibachem General Trading LLC, Dubai, making it a wholly-owned subsidiary. The total consideration paid was Rs. 55 lakhs (in AED equivalent), at AED 1,000 per share. Shares were bought from three individuals — Nilesh Thakkar (75%), Hina Thakkar (18%), and Benjamin Thakkar (7%). The deal was approved by the board earlier in January 2025 and was carried out under the RBI automatic route for overseas investment. Cibachem is a general trading company with a small turnover of around AED 4–5 lakhs in recent years. The acquisition is aimed at expanding Sudarshan Pharma's customer base in the Middle East region.
This is a small, strategic overseas acquisition (Rs. 55 lakhs) that gives Sudarshan Pharma a foothold in the Middle East market through a wholly-owned subsidiary. Financially, the immediate impact on earnings is minimal given Cibachem's tiny revenue base, but it opens a distribution/expansion channel in the region.