India, Aug. 18 -- PPL has completed the acquisition of 1,46,400 equity shares of Rs 10 each in Yapan Bio Private Limited from its existing shareholders for an aggregate cash consideration of approximately Rs 76 crore.
Following the acquisition, PPL's stake in Yapan has increased from 33.33% to 74.00% of the company's equity share capital. As a result, Yapan Bio has ceased to be an associate company and has become a subsidiary of PPL. The promoter and promoter group of PPL are deemed to have an indirect interest in Yapan through the company's investment.
Yapan Bio, incorporated on October 11, 2019, is a Contract Development and Manufacturing Organization (CDMO) specialising in process development, characterisation and Phase I/II GMP manufa...