Aarti Drugs Limited — Important, 29-01-2025: General Updates

The Board of Directors has approved an investment of up to INR 25 Crore in Pinnacle Life Science Private Limited, a wholly owned subsidiary, through a rights issue. This capital will support Pinnacle's expansion and general corporate purposes. Pinnacle Life Science, incorporated in 2003, specializes in manufacturing pharmaceuticals, with a turnover of INR 314.66 Crore for FY 2023-24, showcasing growth from INR 286.57 Crore in FY 2022-23. The acquisition is classified as a related party transaction but is executed at arm's length. Post-investment, Pinnacle will remain a wholly owned subsidiary. The share allotment is expected to happen by February 15, providing a positive outlook for both entities as they pursue enhanced operational capabilities.