Indoco Remedies to Sell Ophthalmic Business for ₹110 Crore to Sunways
Indoco Remedies will sell its Ophthalmic Division for ₹110 Crores to Sunways (India) Private Limited. The division contributed ₹47.79 Crores in revenue in FY25. The sale is part of a strategy to focus on core therapeutic areas and is expected to be completed in approximately three months.
The divested business represents a small portion of the company's overall revenue and net worth, suggesting a moderate impact on the company's overall financial performance.
The sale of a non-core asset for a significant consideration allows the company to streamline its focus on core operations, which is generally viewed positively by the market.
Indoco Remedies Limited has announced the approval of an Agreement to Transfer Business (ATB) for the sale of its Ophthalmic Division in India and several African territories to Sunways (India) Private Limited.
The transaction, approved by the Board of Directors on April 30, 2026, involves the sale of the Ophthalmic Division as a going concern on a slump sale basis. This division contributed ₹47.79 Crores in revenue for the financial year ended March 31, 2025, representing 3.2% of the company's standalone total revenue from continuing operations. The sale consideration is ₹110 Crores, subject to adjustments.
The rationale behind the sale is Indoco Remedies' strategic decision to focus on its core therapeutic areas, with the Ophthalmic Division being considered a non-core asset. The transaction is expected to be consummated within approximately three months, subject to the fulfillment of certain conditions precedent detailed in the ATB.
Sunways (India) Private Limited, the buyer, is a private limited company with standalone revenue of ₹137.42 Crores and consolidated revenue of ₹135.59 Crores for FY 2024-2025. The buyer does not belong to Indoco Remedies' promoter or promoter group. The transaction is not a related party transaction and is not being undertaken through a Scheme of Arrangement. There will be no change in Indoco Remedies' shareholding pattern as a result of this transaction.
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Indoco Remedies Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Indoco Remedies Limited. Read the original for the full detail.