Cipla to invest Rs26-Cr in GoApptiv to raise additional stakes

New Delhi:  Cipla, the leading pharmaceutical conglomerate, has agreed to acquire approximately Rs 26 crore in digital technology company GoApptiv Private to raise its shareholding to 22.02 percent, the pharma major said on Tuesday.

The investment will be made in equity shares and compulsorily convertible preference shares, and it will probably be finished within 30 days or on any other date that the parties may agree upon, Cipla said in a regulatory filing.
Since investing in GoApptiv in June 2020, Cipla has seen growth and increased channel reach in lower-tier Indian locations.

"This investment will deepen our relationship with GoApptiv and enable us to reach more patients in India's tier 2–6 towns with high-quality, reasonably priced medications, end-to-end brand promotion, and channel engagement. The core of what we do, "Caring for Life," will direct us toward making such strategic investments to improve the lives of our patients "Cipla Limited's MD and global CEO, Umang Vohra, said.

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