Unichem Laboratories has acquired a 19.99% stake each in two different companies of the Optimus Group — Optimus Drugs and Optrix Laboratories — for nearly Rs 120 crore with the key objective of gaining access to the firms’ manufacturing facilities.
Optimus and Optrix are Hyderabad-based companies that are owned and controlled by the same management and is engaged in the business of researching, developing, manufacturing, marketing and distribution of active pharmaceutical ingredients and intermediates.
In an exchange notification released on Friday, Unichem stated that for the transaction, it executed a share-subscription and share purchase agreement with Optimus and its promoters for acquisition of a 9.71% of the share capital of the company through primary issuance and acquisition of shares constituting 10.28% of the share capital of Optimus from existing promoters via secondary transfer.
It also executed a share subscription and share purchase agreement with Optrix and its promoters for the acquisition of 14.60% of the company’s share capital through primary issuance and acquisition of shares constituting 5.39% of the share capital of Optrix from its existing promoters via secondary transfer.
Unichem spent Rs 72.08 crore for acquiring the stake in Optimus while it spent Rs 47.92 crore for the Optrix stake purchase. “The company is facing a shortage of API and intermediates manufacturing capacity. This investment will provide the company with additional capacity to meet its immediate requirements and fulfil its export orders,” Unichem stated in its exchange release.
Optimus’s consolidated turnover stood at Rs 198.66 crore in 2018 while Optrix recorded a turnover of Rs 172.58 crore in 2018, according to the release.
Trans-Continental Capital Advisors and Genesis Management Consultancy Services acted as financial advisors to the transaction, according to a press release.
