SIGACHI INDUSTRIES LIMITED Sigachi Industries Limited (NSEI:SIGACHI) agreed to acquire 80% stake in Trimax Bio Sciences Private Limited for INR 1 billion on August 10, 2023. Under the acquisition, Sigachi will acquire 28.8 million equity shares. Sigachi also has an option to acquire the remaining 20% constituting 72,00,000 equity shares in Trimax after 3 years with the purchaser?s call option for INR 250 million or 8.5times of EBITDA multiple, whichever is higher.
Trimax reported turnover of INR 350 million in FY 2022-23. The Board of Directors of Sigachi Industries Limited has approved the transaction. The deal is expected to close within 60 days from the date of approval by the Board of Directors.
