Themis Medicare Limited entered into share purchase agreement to acquire additional 6.47% stake in Gujarat Themis Biosyn Limited from Pharmaceutical Business Group Limited for approximately INR 700 million.

Themis Medicare Limited (BSE:530199) entered into share purchase agreement to acquire additional 6.47% stake in Gujarat Themis Biosyn Limited (BSE:506879) from Pharmaceutical Business Group (India) Limited for approximately INR 700 million on November 7, 2022. Themis Medicare will pay INR 745 cash per share for 939,597 additional shares of Gujarat Themis Biosyn. Following this transaction, Themis Medicare's ownership in Gujarat Themis Biosyn will increase from 23.19% to 29.66%.

The Board of Directors of Themis Medicare approved the transaction. The transaction is subject to applicable approvals and expected to close on March 31, 2023.