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Published: September 15, 2023
Updated: September 15, 2023
Torrent is all set to acquire Cipla at a total valuation of Rs 1.1 trillion. Of this, Torrent will buy the stake of the Cipla promoters for Rs 36,500 crore.
Torrent will pledge its shares in the power company to raise funds at the promoter’s level, while Cipla promoters plan to use the funds to invest in new-age businesses as the old guard bows out of the company.
Torrent will also come out of an IPO for its gas distribution business by 2025 and the promoters will sell their stake to reduce the debt taken to acquire Cipla.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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