Strategic Stake: Welcure Drugs' Partial Acquisition Proposal by Telexcell

Welcure Drugs & Pharmaceuticals' board has considered a proposal from Singapore's Telexcell Trade Pte to acquire up to 25% of the company at Rs 20 per share. While welcoming Telexcell as an investor, the board rejected any management influence. Future capital considerations will favor Telexcell as a preferred partner.

Welcure Drugs & Pharmaceuticals announced on Monday that its board has evaluated a proposal from Singapore-based Telexcell Trade Pte to purchase up to 25% of the company's stake. The proposed acquisition values at Rs 20 per share, indicating a strong validation of Welcure's intrinsic worth.

Despite Telexcell's initial interest in gaining management influence, the company's board has firmly rejected such terms. Welcure emphasized that Telexcell would be considered purely as an investor without any controlling rights within the firm.

The board has further outlined that Telexcell's stake acquisition should occur through secondary transactions like bulk deals, ensuring no liabilities or shareholder value dilution. Welcure acknowledges Telexcell's strategic interest, noting future capital needs will prioritize Telexcell as a preferred partner, subject to regulatory approvals.

(With inputs from agencies.)