Bliss GVS Acquires Majority Stake In Kremoint Pharma
by Paritosh Gajjar
Bliss GVS Pharma has acquired 70% management stake in Kremoint Pharma Private Limited, a BSE filing stated. The amount of investment is not disclosed.
The acquisition is aimed at boosting the company's manufacturing and export of pharmaceuticals.
Kremoint Pharma, commenced manufacturing operations in 1994 under Ashwin.K.Thakkar and is a manufacturer, exporter and supplier of various types of ointments and cream and gel formulations which includes antibiotics, corticosteroids, antiseptic and anti-inflammatory type of combinations. It exports its various pharmaceutical formulations to countries like Congo, Nairobi, Dubai and Nigeria.
Infrastructure company IVRCL has sold its entire 75% stake in Chennai Water Desalination Ltd to Dubai based Utico FZC. The deal provides the plant having a networth of R24 Cr with an equity valuation of R150 Cr.