Indegene Limited has recently clarified an oversight in its regulatory disclosures regarding the acquisition of a Spanish subsidiary. The company, which specializes in healthcare technology solutions, has provided additional details about the transaction in response to inquiries from stock exchanges.

Acquisition Details

Indegene Ireland Limited, a wholly-owned subsidiary of Indegene Limited, acquired Climacreative Spain S.L.U on November 19, 2024. The acquisition was made to establish a presence in Spain through a ready-made entity, commonly known as a 'shelf company.' Indegene paid €5,500 (equivalent to ₹485,136.30) for 100% shareholding of the Spanish entity.

Key Points of the Disclosure

• Acquisition Purpose: The primary objective was to obtain a pre-registered company to facilitate Indegene's expansion into the Spanish market.
• Entity Status: At the time of acquisition, Climacreative Spain S.L.U had no turnover or business operations.
• Transaction Classification: The company emphasized that this acquisition does not qualify as a material transaction and was not a related party transaction.
• Regulatory Compliance: The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company's Statement

In its communication to the stock exchanges, Indegene acknowledged the inadvertent omission in disclosing the acquisition earlier. The company stated, "The omission was purely unintentional. The Company remains committed to maintaining the highest standards of corporate governance and strives to ensure full compliance with all regulatory requirements."

Additional Information

Following the acquisition, the Spanish entity's name was changed to Indegene Spain S.L.U. The company was incorporated in Spain on July 29, 2024, just a few months before Indegene's acquisition.

Indegene's proactive disclosure and clarification demonstrate its commitment to transparency and regulatory compliance. As the company continues its expansion in Europe, this strategic move to establish a presence in Spain could potentially open new opportunities in the region's healthcare technology market.

Investors and stakeholders will likely keep a close eye on how Indegene leverages this new Spanish entity to further its business objectives in the European market.

Indegene Limited , a prominent player in the Indian healthcare technology sector, has announced a significant board development. The company's Board of Directors approved the reappointment of Mr. Neeraj Bharadwaj as Non-Executive Independent Director for a five-year term on December 19, 2025, marking his return to the board in a new capacity.

Board Appointment Details

The board approval came based on the recommendation of the Nomination and Remuneration Committee. The appointment details are outlined below:

Director Profile and Qualifications

Mr. Bharadwaj brings substantial academic credentials and professional experience to the board. He holds a Bachelor of Science in Economics with a specialization in Finance from the University of Pennsylvania, Philadelphia, and an MBA in Management from Harvard University, Cambridge, Massachusetts.

His professional expertise spans multiple areas:

Regulatory Compliance and Governance

Indegene Limited has ensured full compliance with regulatory requirements for this appointment. The company confirmed that Mr. Bharadwaj is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority, as required under NSE and BSE circulars.

The disclosure has been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also confirmed that Mr. Bharadwaj is not related to any existing Director of the company.

Additional Board Matters

During the same board meeting, the directors also approved allotments under the company's ESOP Plan 2020 and RSU Plan 2020, demonstrating continued focus on employee incentive programs.

Srishti Ramesh Kaushik, Company Secretary and Compliance Officer of Indegene Limited, confirmed that all relevant information has been made available on the company's official website at https://www.indegene.com/ .

This reappointment reflects the company's confidence in Mr. Bharadwaj's expertise and his potential contribution to Indegene's strategic direction in the evolving healthcare technology sector.