Cipla Limited (NSEI:CIPLA) entered into a definitive agreement to acquire an unknown minority stake in Achira Labs Pvt. Ltd on June 17, 2022. nature of consideration is in cash in accordance with the definitive agreements, Cipla would invest an amount of INR 250 million for acquisition / subscription of 21.05% stake in Achira.

Post-acquisition, Achira will become an associate of Cipla Limited. As of March 31, 2022. Achira reported a turnover of INR 137.9 million.

the transaction is expected to close within 60 days from the signing of definitive agreements or such other date mutually agreed between the parties.