A committee of independent directors of Krebs Biochemicals and Industries has approved the open offer made by IPCA Laboratories to buy 26 per cent stake in the former at ₹54 a share. In February, IPCA Laboratories had made an open offer to buy 35.7 lakh shares of Krebs Biochemicals of which 23 lakh shares were to be bought on preferential basis. Shares of IPCA Laboratories slipped 2.3 per cent at ₹752.75 while those of Krebs Biochemicals closed at ₹123.30, down 0.9 per cent on the BSE.