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Our Bureau

Mumbai, April 20

PI Drugs & Pharmaceuticals Ltd is set to acquire 100 per cent equity in Elixir Chemicals Pvt Ltd, an unlisted pharma company, for a consideration of Rs 7 crore in an all-cash deal, the company told the Bombay Stock Exchange (BSE).

The company has also decided to issue 18 lakh warrants convertible into equivalent number of equity shares at Rs 47 per warrant to promoter and non-promoter category on a preferential basis, subject to the approval of shareholders in the general meeting, the BSE note said.

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