Cipla to further invest in digital tech company GoApptiv

4 July 2022

Indian drugmaker Cipla Limited (BSE: 500087) has agreed to acquire an additional stake for rupees 25.90 crore ($3.3 million) in digital tech company GoApptiv Private Limited and post completion of the deal, Cipla’s total stake in GoApptiv will increase to 22.02% on a fully diluted basis.

The investment will be made in equity shares and compulsorily convertible preference shares and is likely to be completed within 30 days or such other date mutually agreed between the parties and shall be subject to fulfillment of necessary closing conditions.

The company’s earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla’s channel reach across lower tier towns in India.

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