New Delhi, Sept. 24 -- Mumbai-listed pharmaceutical firm Jagsonpal Pharmaceuticals Ltd has agreed to acquire the wellness portfolio of Group Pharmaceuticals Ltd, a maker of oral healthcare products.
Jagsonpal said in an exchange filing that it will acquire the portfolio for Rs 23.7 crore ($2.4 million) at closing on a going-concern basis through a slump sale.
An additional amount of up to Rs 23 crore will be linked to sales achieved in FY28, taking the total consideration to a maximum of Rs 46.7 crore. The deal is expected to close by November 1, subject to various conditions.
Jagsonpal plans to integrate Group Pharma's product portfolio with its existing commercial platform and leverage its distribution network.
"It strengthens our pharmaceutical portfolio and expands our presence across complementary therapeutic segments, especially in women's healthcare, while remaining consistent with our asset-light and focussed approach to growth," said Manish Gupta, managing director, Jagsonpal.
Delhi-headquartered Jagsonpal has a portfolio of drugs focussed on gynaecology, orthopaedics, and dermatology. In 2022, funds advised by Convergent Finance, a private equity firm floated by former Fairfax India executive Harsha Raghavan, acquired a 43.7% stake in the bulk drugs and formulations maker for Rs 269 crore.
BlueBinaries-MicroNova's automotive testing business
Chennai-headquartered engineering firm BlueBinaries has agreed to acquire the automotive testing business of German software and systems provider MicroNova AG.
BlueBinaries said the carved-out business will operate as a separate firm within the BlueBinaries group under the new name NovaBinaries GmbH. The terms of the transaction were not disclosed.
The business will focus on software testing solutions, including hardware-in-the-loop (HiL) systems, test automation, virtual validation, and software test factories.
Founded in 2017 by Srinivas Aravapalli, BlueBinaries specialises in engineering and technology, with a footprint spanning India, Europe, North America, the Middle East and Asia. It supports major automotive original equipment manufacturers (OEMs) and technology companies across vehicle engineering, digital engineering, testing and homologation.
MicroNova offers testing and validation technologies for the automotive industry, including HiL systems, test automation platforms, virtualisation solutions and engineering services. Its solutions are used by European automotive companies, with EXAM (its flagship test automation product) supporting large-scale testing environments.
Blueleaf Energy
Macquarie-backed Blueleaf Energy said on Thursday that it has acquired a 40-MW operational wind asset in Belgavi district of Karnataka. The terms of the deal were not disclosed.
Blueleaf said in a social media post that the fully operational wind farm complements its existing 1.5-GW greenfield portfolio of assets under construction.
Published by HT Digital Content Services with permission from VC Circle.