Emcure Pharmaceuticals has executed Share Transfer Agreements to acquire 663,865 equity shares, constituting 12.05% of the total issued and paid-up capital of Gennova Biopharmaceuticals Limited. The acquisition is valued at an aggregate cash consideration of ₹231.87 Crore (₹2,318.7 Million), and will make Gennova a wholly-owned subsidiary upon completion. Emcure is acquiring the entire 12.05% minority stake held by Dr. Sanjay Singh and others, taking its ownership from 87.95% to 100%. The transaction is scheduled to be finalized on or before July 31, 2026.

Gennova, currently a subsidiary of Emcure, is involved in the research and development, manufacturing, and marketing of biotechnology-based products. The company's paid-up share capital stands at ₹55,113,650, and it was incorporated on June 19, 2001, operating exclusively in India. Post-acquisition, Gennova will be led by Mr. Samit Mehta and will continue to focus on its biologics franchise — Elaxim®/TENECTASE®, Vintor®, Xgrast®/PEGEX® and Hamsyl® — biosimilars development, and adjacent therapeutic platforms.

Financial Particulars of Gennova Biopharmaceuticals

For the financial year ended March 31, 2026, Gennova reported a turnover of ₹4,917.42 Million and a Profit After Tax (PAT) of ₹54.25 Million. The table below presents a summary of Gennova's recent financial performance alongside key transaction details.

Transaction Structure and Regulatory Details

The acquisition involves purchasing shares from individual shareholders, including relatives of a Promoter and Director of Emcure who are members of Gennova. As the target entity is a related party, the transaction is being undertaken at arm's length. No governmental or regulatory approvals are required for the deal. The transaction is not expected to have a material impact on Emcure's consolidated financials or its capital allocation framework, and the company's deleveraging trajectory, capex plans, and R&D investment plans remain unchanged.

Gennova Biopharmaceuticals Limited, a subsidiary of Emcure Pharmaceuticals , has executed a slump sale of its mRNA business to Immunoscript Life Science Private Limited for a lump sum cash consideration of ₹1,395 million. The transaction, structured as a transfer of a going concern, was finalized through a Business Transfer Agreement on July 10, 2026. This strategic move allows Gennova to reorganize operations and focus on core areas such as research and development, manufacturing, and marketing of biotechnology-based products, including biosimilars and adjacent therapeutic platforms.

The mRNA business, referred to as the transferring business, contributed ₹647.10 million in revenue, representing 0.71% of the consolidated revenue of ₹91,158.88 million for FY 2025-26. The unit's net worth stood at ₹1,326.31 million, accounting for 2.68% of the consolidated net worth of ₹49,500.32 million during the same period. Gennova reported a total turnover of ₹4,917.42 million for FY 2025-26.

Immunoscript Life Science Private Limited, the buyer, is a company incorporated in April 2026 under the Companies Act, 2013. The entity is promoted by Dr. Sanjay Singh, formerly a Director of Gennova. Immunoscript does not belong to the promoter or promoter group of Emcure Pharmaceuticals. The company is focused on advancing precision immunology by integrating biological engineering, artificial intelligence, and scalable biomanufacturing technologies to develop next-generation vaccines and advanced therapeutics.

The completion of the slump sale is subject to the fulfilment of conditions precedent and other terms outlined in the Business Transfer Agreement, as well as necessary regulatory and statutory approvals. The transaction is expected to be concluded by July 17, 2026, or such other date as may be mutually agreed upon by the parties involved. The sale does not form part of any Scheme of Arrangement, and Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is not applicable.

There will be no change in the shareholding pattern of Emcure Pharmaceuticals as a result of this slump sale. The disclosure was made to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Details of the Transferring Business