We refer to our letter dated August 12 2021 informing you that the Company had entered into binding agreements with Cronus Pharma Specialities India Private Limited (Cronus Pharma) for acquisition of 51% ownership in Cronus Pharma by subscribing to 95 059 963 equity shares of Rs.10/- each at a premium of Rs.34.18 per equity share aggregating to Rs.420 crores.
The Board of Directors in its meeting held today has approved the termination of the aforesaid agreements and the parties have mutually agreed and terminated the said agreements.
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