Eris Lifesciences Limited executed a share purchase agreement with KINEDEX

Deepthi | Myequity news | Date : 06-11-2018 19:50:00 IST

Eris Lifesciences Limited, today executed a share purchase agreement (Agreement) with Mr. Rakesh Dhuria (one of the founders & promoters of KINEDEX) with the intent of increasing its ownership and control of the said subsidiary i.e. KINEDEX by way of purchase of 12, 239 equity shares of face value of Rs. 10/- each (equivalent to 66.71%).

Prior to this transaction, the Company (including its nominees) held 75.48% shareholding in Kinedex. Post completion of this transaction, the total holding of the Company (including its Nominees) shall stand at 82.19%.

KINEDEX was incorporated in September 18th, 2002 and is engaged, inter alia, in the marketing and selling of pharmaceutical products in India.

The Indicative time period for completion of the acquisition is 30 days from the date of execution. The consideration per share is Rs.8760/-.

About Eris Lifesciences Limited:

Eris Lifesciences founded by Mr Amit Bakshi and team in 2007 is one of the fastest growing companies within the chronic and acute categories of the Indian Branded Formulations market such as: cardiovascular; anti–diabetes; vitamins; gastroenterology and gynaecology. Its focus has been on developing, manufacturing and marketing products which are linked to lifestyle related disorders that are chronic in nature and are treated by superspecialist and specialist doctors.

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