Lupin Limited has announced that its subsidiary, Nanomi B.V., has increased its stake in Multicare Pharmaceuticals Philippines, Inc. (MPPI) from 51% to 56.28%. This development follows a buyback of 2,813,811 equity shares by MPPI from some of its existing shareholders, in which Nanomi did not participate.
MPPI, headquartered in the Philippines, is involved in trading, importing, marketing, and distributing pharmaceutical products and medical devices. As of March 31, 2025, the company reported a turnover of PHP 2,096.6 million and a net worth of PHP 1,265.5 million.
The buyback does not fall under related party transactions, and none of the promoter/promoter group or group companies have any interest in the transaction. The buyback was executed using MPPI's retained earnings, leading to the increased shareholding for Nanomi effective immediately.
MPPI was incorporated on November 9, 2001, and has shown a turnover of PHP 2,096.6 million in FY 25, PHP 2,351.2 million in FY 24, and PHP 1,744.7 million in FY 23.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).