LAURUS LABS The Board has approved an investment of INR 400 million in Laurus Bio, a subsidiary.
Additionally, it has approved definitive agreements with Eight Roads Ventures and F-Prime Capital for a joint investment of INR 120 Cr in Laurus Bio.
The Investors' investment will be completed by December 2024, while the Company's investment will be made by June 30, 2025.
Upon completion of the investments, the Investors and the Company will hold 13.73% and 74.64% shares in Laurus Bio, respectively.
The remaining shares will be held by other shareholders. Both the Company and the Investors have the right, but not the obligation, to invest up to INR 35 Cr for Laurus Bio's growth until 31st December 2025.
Note ; Laurus Bio is engaged in the business of manufacture of biological products
Additionally, it has approved definitive agreements with Eight Roads Ventures and F-Prime Capital for a joint investment of INR 120 Cr in Laurus Bio.
The Investors' investment will be completed by December 2024, while the Company's investment will be made by June 30, 2025.
Upon completion of the investments, the Investors and the Company will hold 13.73% and 74.64% shares in Laurus Bio, respectively.
The remaining shares will be held by other shareholders. Both the Company and the Investors have the right, but not the obligation, to invest up to INR 35 Cr for Laurus Bio's growth until 31st December 2025.
Note ; Laurus Bio is engaged in the business of manufacture of biological products