Eris Lifesciences to buy additional stake in Kinedex

Eris Lifesciences on Saturday said it will buy additional 17.81  per cent  share in its step-down firm Kinedex, making it wholly-owned subsidiary. 

Eris Lifesciences to buy additional stake in Kinedex
Eris Lifesciences has entered into a share purchase agreement with Rajesh Dhuria, one of the founders and promoters of Kinedex with the intent to have full ownership and control of the said subsidiary, it said. Image source: Pixabay

Eris Lifesciences on Saturday said it will buy additional 17.81 per cent share in its step-down firm Kinedex, making it wholly-owned subsidiary. The company, which already owns 82.19 per cent share in the company, has entered into an agreement with Kinedex promoters, Eris Lifesciences said in a regulatory filing.

The company has entered into a share purchase agreement with Rajesh Dhuria, one of the founders and promoters of Kinedex with the intent to have full ownership and control of the said subsidiary, it said.

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Kinedex turnover in FY 2017-18 was Rs 51.22 crore.

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Updated: Sun, Apr 07, 2019
08:23 AM IST
PTI
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