Companies

Cipla to acquire 21.85% stake in GoApptiv

PTI New Delhi | Updated on June 10, 2020 Published on June 10, 2020

Pharma major Cipla on Wednesday said it will acquire 21.85 per cent stake in GoApptiv on a fully-diluted basis in two phases.

The cost of acquisition is ₹9 crore (₹5.80 crore in the first stage and ₹3.20 crore in the second stage), it said in a regulatory filing.

In the first stage, a subscription of 15,392 compulsorily convertible preference shares and purchase of 6,927 equity shares areexpected to be closed within 30 days from the execution date, subject to certain conditions precedent.

In the second stage, a subscription of 12,314 compulsorily convertible preference shares is expected to close by October 31, subject to certain conditions precedent, it added.

GoApptiv offers digital solutions for integrated brand sales management, digital marketing and channel engagement for pharmaceutical companies.

It also provides digital solutions for customer relationship management, patient support and healthcare data analytics.

The drug firm will strengthen its partnership with the firm so as to enable widening reach of its key brands in the tier-3 plus towns, Cipla said.

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Published on June 10, 2020
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