Telexcell Trade Eyes 25% Stake in Welcure Drugs to Expand Global Reach
Welcure Drugs & Pharmaceuticals Ltd is set to receive a significant investment from Singapore-based Telexcell Trade, which plans to acquire a 25% equity stake at Rs 20 per share. This strategic move aims to enhance Welcure's international presence and involves a funding initiative for an agro-pharma research lab.
- Country:
- India
In a strategic move to bolster its international presence, Welcure Drugs & Pharmaceuticals Ltd revealed that Singapore's Telexcell Trade is poised to acquire up to a 25% equity stake in the firm. The acquisition offer is priced at an indicative Rs 20 per share, surpassing current market prices, the company stated on Wednesday.
This investment is part of Welcure's broader global expansion strategy, targeting opportunities in emerging markets. However, the company has not disclosed the exact size of the deal yet. According to a recent statement, the proposed investment, valued at approximately Rs 52 crore, is contingent upon due diligence, definitive agreements, and regulatory clearances.
Additionally, Welcure has announced plans to inject Rs 70-80 crore into establishing a cutting-edge agro-pharma research facility. To this end, the company is looking to raise Rs 80 crore through Qualified Institutional Placement (QIP) to fund the laboratory and general corporate expenditures.
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