Indoco Remedies Limited has announced the sale of its ophthalmic business in select domestic and African markets to Sunways (India) Private Limited through a slump sale transaction valued at ₹110 crore.
The company informed stock exchanges that its Board of Directors approved the Agreement to Transfer Business (ATB) at a meeting held on April 30, 2026. The agreement was subsequently executed on the same day.
The transaction involves the transfer of Indoco’s ophthalmic division operations across India and several African territories, including Benin, Burkina Faso, Ivory Coast, Mali, Niger, Mauritania, Senegal, Cameroon, Congo, Gabon, Kenya, Botswana, Tanzania, Zambia, Zimbabwe, and Namibia. The business will be transferred as a going concern on a slump sale basis, subject to terms and conditions outlined in the agreement.
According to the company, the ophthalmic division generated revenue of ₹47.79 crore during FY2024-25, contributing around 3.2% to Indoco’s standalone revenue from continuing operations.
Indoco stated that the divestment aligns with its strategy to focus on core therapeutic areas, with the ophthalmic business in the specified territories classified as a non-core segment.
The transaction is expected to be completed within approximately three months, subject to the fulfilment of customary conditions precedent.
Sunways (India) Private Limited, the buyer in the transaction, reported standalone revenue from operations of ₹137.42 crore in FY2024-25, while consolidated revenue stood at ₹135.59 crore. Indoco clarified that Sunways does not belong to its promoter group and that the transaction does not qualify as a related-party deal.