Shilpa Medicare Limited has sold off 31% of its stake in Sravathi Advance Process Technologies Private Limited by way of secondary transfer in favour of Ash Ingredients Inc. and Varcatalyst LLP, for a consideration of ₹49.6 crore.
NovoJuris Legal advised Sravathi Advance Process Technologies on this transaction.
The transaction team consisted of Ashwin Bhat (Deputy Managing Partner) and Amol Chitnis (Junior Partner).
Managing Partner, Sharda Balaji provided her strategic inputs on this transaction.
Sravathi is engaged in the business of research in the field of DPT using process intensification principles, including flow chemistry in the areas such as Specialty Chemicals, polymers, APIs, key raw materials of APIs, specialty agrochemicals, and related activities.
Following the transaction, Shilpa Medicare’s shareholding in Sravathi will decrease from 65% to 34%.
Ash Ingredients and Varcatalyst now hold 22% and 9% stake in Sravathi, respectively.
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