Laurus Labs has increased its investment in its subsidiary, Laurus Bio Private Limited, by INR 34,99,87,919.74/-. This investment involved the acquisition of 13,487 Series A3 Compulsorily Convertible Preference Shares. Following this additional investment, Laurus Labs’ shareholding in Laurus Bio has risen to 75.61% on a fully diluted basis.
Investment in Subsidiary
Laurus Labs has made a further investment in Laurus Bio Private Limited. The transaction was completed on December 6, 2024.
Details of the Investment
The company invested INR 34,99,87,919.74/- (Indian Rupees Thirty Four Crores Ninety Nine Lakhs Eighty Seven Thousand Nine Hundred and Nineteen and Paise Seventy Four Only). This investment facilitated the acquisition of 13,487 (Thirteen Thousand Four Hundred and Eighty Seven) Series A3 Compulsorily Convertible Preference Shares of Laurus Bio.
The shares were acquired at a face value of INR 100/- each, with a premium of INR 25,850.02/- per share.
Revised Shareholding
Following this investment, Laurus Labs now holds a 75.61% shareholding in Laurus Bio Private Limited on a fully diluted basis.
Source: BSE