Pharma Company Enters Into Share Purchase Agreement and Power Supply Agreement with Torrent Urja 19 Pvt Ltd
The company has a market cap of over Rs 13,000 crore and the stock is up 45 per cent from its 52-week low of Rs 743.60 per share.
Alivus Life Sciences Limited, formerly known as Glenmark Life Sciences Limited, has announced a significant strategic move by entering into a Share Purchase cum Subscription Shareholders’ Agreement and Power Supply Agreement with Torrent Urja 19 Private Limited. This agreement is part of Alivus's commitment to becoming carbon neutral by 2030, enhancing its renewable energy consumption.
The acquisition involves a 9.21 per cent stake in Torrent Urja 19 Private Limited, a subsidiary of Torrent Green Energy Private Limited, which focuses on solar and renewable energy projects. This investment aligns with Alivus's regulatory requirements to qualify as a captive user under Indian electricity laws. The transaction, valued at Rs 15.6 crore, is expected to be completed within six months. Torrent Urja 19 Private Limited, incorporated in August 2024, is engaged in generating and supplying electrical power from renewable sources. This move is anticipated to bolster Alivus's renewable energy portfolio and support its sustainability goals.
About the Company
Alivus Life Sciences Limited, a subsidiary of Nirma Limited, is a prominent developer and manufacturer of high-value active pharmaceutical ingredients (APIs) in chronic therapeutic areas. The company operates primarily in two business segments: the API business, which constitutes 95 per cent of its revenue, and the Contract Development and Manufacturing Operations (CDMO) business, contributing 5 per cent.
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Alivus's API portfolio includes 151 molecules sold globally, with a strong presence in regulated markets, accounting for 82 per cent of its revenue. The company has five manufacturing facilities in India and is expanding its capacity with new projects. Alivus maintains high-quality standards, with no regulatory warnings since 2015, and serves over 2,250 customers worldwide. Its R&D efforts focus on synthetic small molecules and high-potency APIs, with a plan to develop 8-10 new products annually. The company is also investing in capacity expansion to increase its reactor capacity significantly by FY27.
The company has a market cap of over Rs 13,000 crore and the stock is up 45 per cent from its 52-week low of Rs 743.60 per share. Investors should keep an eye on this pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.