Sotac Pharmaceuticals said it has made further investments to the extent of about ₹5 crore in its subsidiary company, Sotac Lifesciences Private Limited (SLPL) by way of subscription of 51 lakh fully paid-up equity shares of face value ₹10 each.
On Friday, the subsidiary company allotted 51 lakh equity shares of face value of ₹10 each at cash for the total consideration of about ₹5 crore to the holding company. Subsequent to allotment of 51 lakh equity shares by SLPL, holding of Sotac Pharmaceuticals Limited in SLPL has increased to 51.26 percent from 51 per cent of equity share capital of Sotac Lifesciences.