New Delhi, Feb 3 (PTI) – Leading pharmaceutical company Cipla Ltd announced on Monday its plan to invest ZAR 900 million (approximately ₹415 crore) in its South African subsidiary, Cipla Medpro South Africa Proprietary Ltd (CMSA).
CMSA, a wholly-owned subsidiary of Cipla, serves as the holding entity for the group's operations in South Africa, focusing on the manufacturing, marketing, and supply of pharmaceutical products.
In a regulatory filing, Cipla stated that the investment is aimed at reducing inter-group debt and enhancing the capital structure of CMSA and its subsidiaries.
The transaction is expected to be completed by February 28, 2025, or on another mutually agreed date, the company added.
CMSA, a wholly-owned subsidiary of Cipla, serves as the holding entity for the group's operations in South Africa, focusing on the manufacturing, marketing, and supply of pharmaceutical products.
In a regulatory filing, Cipla stated that the investment is aimed at reducing inter-group debt and enhancing the capital structure of CMSA and its subsidiaries.
The transaction is expected to be completed by February 28, 2025, or on another mutually agreed date, the company added.