Sun Pharmaceutical Industries Limited has entered into an agreement to acquire 100% outstanding shares of Innovcare Lifesciences Private Limited for a cash consideration of approximately Rs 271.2 crore. The transaction is expected to close on or before 31 July 2026 and will be satisfied entirely in cash.
Innovcare Lifesciences, incorporated on 21 July 2014 and based in Mumbai, operates in the pharmaceuticals and healthcare industry. Innovcare is engaged in the marketing, distribution and sale of pharmaceutical drugs, nutraceutical and cosmeceutical products. Sun Pharma described the acquisition as a strategic investment to strengthen its product portfolio.
Innovcare reported revenue from operations of Rs 94.06 crore for the financial year 2025-26, up from Rs 86.09 crore in 2024-25 and Rs 80.93 crore in 2023-24. The turnover has grown steadily over each of the last three financial years.
The acquisition is not a related party transaction and the promoter or promoter group does not have any interest in Innovcare. The consideration of approximately Rs 271.2 crore will be paid in cash for the full equity stake of the target company.
No governmental or regulatory approvals are required for the acquisition. The stock exchanges were notified of the development under Regulation 30 of the SEBI Listing Regulations, with the prescribed disclosures made under Part A of Schedule III.
Innovcare operates exclusively in the Indian market and was founded in July 2014. The business of marketing and distributing pharmaceutical, nutraceutical and cosmeceutical products aligns with Sun Pharma's existing operations in the domestic pharmaceutical sector.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.