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Lupin Ltd Capital/Financing Update 2022

Jan 18, 2022

61031_rns_2022-01-18_7f078fb1-a9e9-4609-ad7c-330922544157.pdf

Capital/Financing Update

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January 18, 2022

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BSE Limited

Department of Corporate Services, P. J. Towers, Dalal Street, Mumbai Samachar Marg, MUMBAI - 400 001.

 National Stock Exchange of India Limited

Exchange Plaza, Bandra Kurla Complex, Bandra (East), MUMBAI - 400 051.

Sub: Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/Madam,

In compliance with Regulation 30 read with Schedule III of the Listing Regulations and SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015, we are pleased to inform you that the Board of Directors at its meeting held on January 17, 2022, approved the acquisition of a portfolio of brands (including all rights and interests associated with such products) of Anglo-French Drugs & Industries Limited and its associates (subject to approval of their shareholders), to strengthen the Company’s portfolio in the Vitamins, Minerals and Supplements and CNS segments, particulars of which are as under: -


a)	name of the target entity, details in brief such as size, turnover etc.;	Portfolio of brands(including all rights andinterests associated withsuch products) of Anglo-French Drugs & IndustriesLimited and its associates.The turnover of thesebrands for the year endedMarch 31, 2021 was INR 946million.
b)	whether the acquisition would fall within related party transaction(s)and whether the promoter/promoter group/group companies haveany interest in the entity being acquired? If yes, nature of interestand details thereof and whether the same is done at “arms-length”;	No.
c)	industry to which the entity being acquired belongs;	Pharmaceuticals.

d)	objects and effects of acquisition (including but not limited to,disclosure of reasons for acquisition of target entity, if its business isoutside the main line of business of the listed entity);	The portfolio of productsbeing acquired is in linewith the business of theCompany.The acquisition wouldenable addition ofestablished brands withhigh recall amongsthealthcare professionals,especially in the Vitamins,Minerals and Supplementscategory.Value creation is expectedfrom a combination ofportfolio of brands to beacquired which coupledwith existing products,would lead to EBITDAmargin accretion.
e)	brief details of any governmental or regulatory approvals requiredfor the acquisition;	No government/regulatoryapprovals are required.
f)	indicative time period for completion of the acquisition;	Execution of definitiveagreements andcompletion of conditionsprecedent, is expected tobe completed by March2022.
g)	nature of consideration - whether cash consideration or share swapand details of the same;	Cash consideration.
h)	cost of acquisition or the price at which the shares are acquired;	A lumpsum considerationof about INR 3250 millionincluding working capital(normalised inventory ofthree months) amountingto INR 90 million (approx.)on a cash and debt-freebasis.
i)	percentage of shareholding/control acquired and/or number ofshares acquired;	The acquisition is of aportfolio of brands and nota unit or division or acompany.