Indrayani Biotech informed the exchange that IBL Healthcare Limited, a wholly owned subsidiary has invested in M/s. Kniss Laboratories Private Limited by subscribing to 54,68,934 Equity shares of the Company of face value of Rs. 10/- each on preferential allotment/private placement basis in two tranches. Thus, Kniss Laboratories has become a subsidiary of IBL Healthcare Limited.
Kniss Laboratories manufactures and markets a wide range of pharmaceutical and nutraceutical products.
The cost of acquisition was Rs. 5.46 crore.