Natural Capsules Limited (BSE:524654) entered into an arrangement to acquire API Business of Naari Pharma Private Limited for approximately INR 250 million on December 21, 2019. The acquisition includes the hormonal API manufacturing site located at Kashipur, Uttarakhand and associated business focused on Hormonal API segment. Natural Capsules intends to fund the acquisition through a mix of internal accruals and debt funding. The board of directors of Natural Capsules approved the proposal to acquire the business on December 21, 2019. Natural Capsules Limited (BSE:524654) cancelled the acquisition of API Business of Naari Pharma Private Limited on December 21, 2020.