Virchow becomes a subsidiary of Ciba Speciality Chemicals

Mumbai, June 23 (UNI) Virchow Drugs Pvt Ltd has become a subsidiary of Ciba Specialty Chemicals India Ltd.

Informing BSE, the company said pursuant to the Joint Venture Agreement, it has been allotted 8,326,531 equity Shares of Virchow Drugs for cash at the par value of Rs 10 each, aggregating to Rs 8.3 crore approximately representing 51 per cent of the issued and paid up equity share capital of Virchow.

With this allotment and acquisition of shares Virchow has now become a subsidiary of the Company.

UNI SN KU SKB1748