Dr Reddy’s Labs acquires NBFC

Source: The Hitavada      Date: 05 Mar 2017 09:23:58


NEW DELHI,

Mar 4,

(PTI),

DR REDDY’S Laboratories on Friday announced that it had acquired 100 per cent stake in Imperial Credit Private Ltd, a Kolkata-based non-banking finance company. The acquisition was for a consideration of Rs 2.05 crore. “The acquisition process was consummated on receipt of applicable regulatory approvals. The company proposes to undertake the group’s captive financial activities through this entity,” Dr Reddy’s Laboratories said in a regulatory filing.