Medico Intercontinental Ltd — Others, 07-04-2025: Announcement under Regulation 30 (LODR) - Meeting updates

Intercontinental Ltd. has announced a board meeting on April 7, 2025, where it approved an investment of approximately ₹5.93 crore into Calborn Lifescience Private Limited. This investment, aimed at securing a 51% stake in Calborn, will transform it into a subsidiary, aligning with Intercontinental's strategic focus on the pharmaceutical sector. Calborn reported a turnover of about ₹1.30 crore for FY 2023-24 and ₹4.41 crore for FY 2024-25. The share acquisition price is set at ₹30 each, based on a valuation report, presenting a potential positive outlook for Intercontinental's expansion efforts in the growing pharma market.