Time Medical International Ventures Pte. Ltd., Shankar Varadharajan and Ravindran Govindan made an offer to acquire 26% stake in Fischer Chemic Limited (BSE:524743) for approximately INR 170 million on December 15, 2023. As on December 30, 2023, It has been agreed that Shankar Varadharajan will acquire all the Shares to be tendered in Open Offer and Time Medical International Ventures Pte.

Ltd. and Ravindran Govindan has given their consent for the same. The transaction is expected to close on February 22, 2024. Navigant Corporate Advisors Limited acted as financial advisor and Adroit Corporate Services Private Limited acted as registrar to Time Medical International Ventures Pte.

Ltd., Shankar Varadharajan and Ravindran Govindan.