NATCO PHARMA LTD. - 524816 - Announcement under Regulation 30 (LODR)-Meeting Updates
The Board of Directors have approved to incorporate a Subsidiary Company in Indonesia with an investment up to an amount not exceeding US$ 3 Million (Three Million United States Dollars only), of which, initially the Company will invest US$ 1 Million (One Million United States Dollars only) for a stake of 51% (Fifty One Percent) as capital contribution and balance will be invested by the Company as and when the funds are required by the subsidiary Company. The balance stake of 49% (Forty Nine Percent) will be held by PT. Mitra Medis Exim (MME), that belongs to Mitra Jaya Group which is a 40 year old multi-diversified group, as the co-promoter of the proposed subsidiary Company. MME is in the business of distribution for active pharmaceutical ingredients and excipients for the end users in Indonesia. The disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the aforesaid acquisition is enclosed as Annexure - I20-04-2023