Aurobindo to acquire remaining 49 percent in GLS Pharma for Rs 22.5 crore

"This acquisition is undertaken to hold the entire ownership of GLS by the company," Aurobindo said.

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26 Aug, 2025 12:21

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API player Aurobindo Pharma will acquire rest of the 49 percent stake in GLS Pharma for Rs 22.5 crore, turning it into a wholly-owned subsidiary, the company said on September 18.

Aurobindo signed a binding agreement with GLS Pharma and promoters to acquire the remaining equity at Rs 381.12 per share, totalling up to 49 per cent stake. The transaction is expected to be completed by December, said Aurobindo Pharma.

"This acquisition is undertaken to hold the entire ownership of GLS by the company," Aurobindo said.

Aurobindo had acquired a 51 percent stake in GLS Pharma from promoters Suresh Pathak and family in June 2022. At the time of the deal, Aurobindo had entered into a call option to acquire the remaining 49% of GLS after three years, but before five years from the date of acquisition.

GLS - incorporated in 2004 - is in the business of oncology products, including orals and injectables for chemotherapy, as well as chemo-supportive products. The company recorded a sales of Rs 32.99 crore during FY24.

Aurobindo’s acquisition was aimed at expanding into India's oncology business as well as to add inorganic capacity in oncology, ICICI Securities had said at the time of the deal.