Merger for bail-out from debt obligation

Ind Swift Limited (herein after also referred to as 'ISL' or 'Transferor Company') is engaged in the business of manufacturing of Pharmaceutical Products.

- Anirudha Jain

ISL is a leading pharmaceutical manufacturer of Finished Dosages Form (FDF) with national and international presence based in Chandigarh. Its strength lies in innovative pharmaceutical products. The Transferor Company is listed on BSE Limited and the National Stock Exchange of India Limited.

Ind Swift Laboratories Limited (herein after also referred to as 'ISLL' or 'Transferee Company') is primarily engaged in inter alia in the business of manufacturing and marketing of Active Pharmaceutical Ingredients (APIs), Intermediates and Finished Dosages through recently set up joint ventures. Recently, ISLL completed transfer of its core API & intermediates business through a slump sale transaction. The Transferee Company is also listed BSE Limited and the National Stock Exchange of India Limited. Currently, ISLL has recently started Finished Dosage Business through joint ventures and surplus cash received through a slump sale. Earlier, ISL was holding 16.08% of equity capital of ISLL which was transferred to other promoter company Essix Biosciences Limited in March 2024 for a consideration of INR 95 crore.

The Transferor Company and Transferee Company belong to the same group i.e., the Ind-swift Group.

Slump Sale by ISLL