Windlass Healthcare has sold 51 per cent stake to Cadila Healthcare, a drug firm. A statement from Cadila Healthcare said it bought the stake for Rs 155.55 crore.
In a BSE filing, the company said the deal does not constitute related party transaction.
“Objective of this investment is to expand pharma manufacturing footprint,” Cadila said.
As per the filing, the company has entered into an agreement to acquire 51 per cent share capital of Windlass Healthcare Pvt Ltd.
Whole acquisition process will be completed by end of September 2018, it said.