Camlin Fine Sciences Limited (BSE:532834) agreed to acquire 69.33% of stake in AlgalR NutraPharms Private Limited for INR 65 million on May 16, 2021. Upon consummation of the secondary purchase and primary subscription, the company will hold 80% of the paid-up capital of AlgalR on a fully diluted basis. Shares Transfer/Administrative & Finance Committee of Camlin Fine Sciences Limited pursuant to the powers granted by the Board of Directors, has approved strategic investment in AlgalR NutraPharms. Nikhilesh Panchal, Adheesh Nargolkar and Chirayu Chandani of Khaitan & Co. acted as legal advisor for Camlin Fine Sciences Limited.

Camlin Fine Sciences Limited (BSE:532834) completed the acquisition of 69.33% of stake in AlgalR NutraPharms Private Limited on November 11, 2021.