Ranbaxy has acquired a 14.95% stake in Krebs Biochemicals.

Ranbaxy has acquired a 14.95% stake in Krebs Biochemicals, a strong player in fermentation technology space.

Ranbaxy picks up 14.95% stake in Krebs biochemical by pref allotment of 10.5 lakh shares to Ranbaxy at Rs 85 per share. The issue of 20-lakh shares warrants to promoters. IPCA labs was also believed to have been in the race.

Krebs Biochemicals has interests in Pravastatin & Simvastatin. It has a state of the art manufacturing facility at Vizag. It is a strong player in fermentation technology space.

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