Piramal Pharma Limited is set to increase its shareholding in Yapan Bio Private Limited from 33.33% to approximately 74% by exercising a call option. This move will make Yapan Bio a subsidiary of Piramal Pharma. The company specializes in contract development and manufacturing for vaccines and biologics. Discussions regarding final acquisition terms, including consideration and effective dates, are ongoing. Piramal Pharma expects to finalize these details and make further disclosures upon completion of definitive documentation.
Piramal Pharma Exercises Call Option for Yapan Bio Stake
Piramal Pharma Limited has announced the exercise of its call option to acquire an additional 41% equity stake in its associate company, Yapan Bio Private Limited. This strategic move, approved by the Administrative Committee of Piramal Pharma’s Board of Directors, will significantly increase Piramal Pharma’s shareholding in Yapan Bio from the existing 33.33% to approximately 74%. Consequently, Yapan Bio is poised to become a subsidiary of Piramal Pharma.
About Yapan Bio Private Limited
Yapan Bio Private Limited operates as a Contract Development and Manufacturing Organization. The company specializes in providing comprehensive services for process development, characterization, and Phase I/II GMP manufacturing, particularly for vaccines and biologics. Its expertise aligns with Piramal Pharma’s broader strategic interests in the biopharmaceutical sector.
Transaction Details and Next Steps
The company is currently engaged in discussions with the promoters and shareholders of Yapan Bio to finalize the terms of the acquisition. Key aspects, including the acquisition consideration and the effective date of the share transfer, are yet to be determined. Piramal Pharma has committed to making appropriate disclosures, as required by regulatory norms, once definitive documentation is executed and the transaction is completed.
Source: BSE
