Gujarat Themis Biosyn Limited has initiated arbitration proceedings against Optimus Drugs Private Limited to recover damages following the termination of a supply agreement. The company claims the termination occurred contrary to the agreed terms and has approached a Learned Sole Arbitrator to resolve the dispute. The total claim amounts to ₹113.8 crore, covering break fees, interest, and financial losses incurred due to the breach of contract.

Details of the dispute

Optimus Drugs allegedly breached the mandatory "Take-or-Pay" minimum purchase obligations outlined in the agreement. Consequently, Gujarat Themis Biosyn is seeking specific recoveries from the respondent. The company asserts that the termination was unjustified and has resulted in significant financial impact, necessitating legal intervention to enforce the terms of the original contract.

Breakdown of claims

The arbitration filing details several components of the financial claim being pursued by Gujarat Themis Biosyn. The company is seeking restitution for specific breaches and the resultant monetary damages.

Financial implications and regulatory filing

Gujarat Themis Biosyn stated that since it has initiated the arbitration proceeding claiming recovery and damages, it does not anticipate any adverse financial implications arising from penalties. The disclosure was made to the BSE Limited and National Stock Exchange of India Limited on June 26, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted by Vineet Gawankar, Company Secretary & Compliance Officer.

Sachin D. Patel, a promoter of Gujarat Themis Biosyn Limited , proposes to acquire up to 26,00,000 equity shares from Themis Medicare Limited. The inter-se transfer, scheduled to occur between June 30 and July 3, 2026, represents up to 2.38% of the total share capital of the company. The acquisition is exempt from making an open offer under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The proposed acquisition price is fixed at Rs. 400.45 per share. The 60-day volume weighted average market price of the shares preceding the notice date was Rs. 369.15. The acquirer has declared that the transaction price does not exceed the permissible limit of 25% over the determined price. The transfer is classified as an inter-se transfer among the promoter and promoter group.

Following the transaction, the shareholding pattern will see a shift in ownership between the promoter entities. Dr. Sachin Patel’s holding is set to increase to 26,00,010 shares, constituting 2.38% of the share capital. Conversely, the seller, Themis Medicare Limited, will see its stake reduce from 23.19% to 20.81%.

Transaction Details

The acquirer has confirmed compliance with all conditions specified under the relevant regulations and affirmed that both transferor and transferee have adhered to applicable disclosure requirements in Chapter V of the Takeover Regulations.