Alkem Laboratories Ltd. announced an approved amendment to its Joint Venture (JV) agreement concerning its planned subsidiary in the Kingdom of Saudi Arabia. The JV, initially involving Mr. Abdulaziz Alsheikh, will now see the 49% stake held by the JV Partner transferred to Vitals Biotech Company, an entity wholly owned by the JV Partner. Alkem will retain 51% ownership of the Saudi Arabian JV, following the Board’s approval on February 13, 2026.
Update on Saudi Arabia Joint Venture
Alkem Laboratories Ltd. has issued a formal communication regarding developments concerning its international joint venture planned for the Kingdom of Saudi Arabia. This follows a prior intimation made on 12th August, 2025, detailing the initial Shareholders’ Agreement executed with Mr. Abdulaziz Alsheikh, identified as the JV Partner.
Under the original structure, Alkem Laboratories was set to hold 51% of the total share capital in the subsidiary, with the remaining 49% stake allocated to the JV Partner.
Board Approval for Amendment
The Board of Directors convened on 13th February, 2026, and formally approved a crucial amendment to the existing agreement. This amendment pertains to the entity holding the minority stake.
The 49% share capital in the JV will now be held by Vitals Biotech Company, which is identified as the wholly owned company of the JV Partner, rather than by Mr. Alsheikh himself.
Ownership Confirmation
The final approved structure confirms that Alkem Laboratories Limited will continue to maintain a majority stake of 51% in the new Saudi Arabian joint venture entity, while Vitals Biotech Company will secure the balance of 49%.
Source: BSE
