NSEAcquisition3 Jul 2026 · 3 Jul 2026, 10:14 am
Acquisition
Emcure Pharmaceuticals Limited · EMCURE
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Emcure Pharmaceuticals Limited has informed the Exchange about the acquisition of Mantra Pharma Inc., a step-down subsidiary of the Company, by Marcan Pharmaceuticals Inc., another subsidiary of the Company, for an aggregate consideration of CAD $50 million.
Analysis Scores
Earnings Impact2/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment5/10
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Emcure Pharmaceuticals Limited has informed the Exchange about Acquisition
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EMCURE_03072026101035_EPLIntimationRegulation30AcquisitionMantraPRefFinal.pdf
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Emcure
Ref: EPL/CS/SE/0054/2026 Date: July 03, 2026
National Stock Exchange of India Limited BSE Limited
Exchange Plaza, C-1, Block G, P J Towers,
Bandra Kurla Complex, Bandra (East), Dalal Street,
Mumbai – 400 051 Mumbai - 400 001
Script Symbol: EMCURE Scrip Code/Symbol: 544210/ EMCURE
Dear Sir/Madam,
Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 – Acquisition/ investment in step-down subsidiary
by subsidiary
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“LODR Regulations”) and in furtherance to the disclosure made in the
Prospectus filed with the Securities Exchange Board of India, during the Initial Public Offer of the
Company, we wish to inform you that Marcan Pharmaceuticals Inc., a subsidiary of the Company
(“Marcan”) has on July 02, 2026 (EDT) entered into share purchase agreements with certain
shareholders of Mantra Pharma Inc., a step-down subsidiary of the Company (“Mantra”), to
acquire all of Class E Special Shares in the share capital of Mantra. Consequently, Mantra
continues to be 100% subsidiary of Marcan.
The particulars of the disclosure required under Regulation 30 and Part A of Schedule III of the
LODR Regulations are provided in Annexure A, enclosed herewith.
The intimation is being made within reasonable time upon occurrence of the event, taking into
account the applicable time-zone difference.
You are requested to take the above information on your records.
Thanking you,
For Emcure Pharmaceuticals Limited
Amruta Yangalwar
Company Secretary and Compliance Officer
Membership No.: A25687
Encl: As above
Emcure Pharmaceuticals Limited
Registered Office: Plot No. P-1 & P-2, IT-BT Park, Phase-II, M.I.D.C., Hinjawadi, Pune - 411057, Maharashtra, India
Phone Nos.: +91 20 – 35070033/ 35070000 Fax No.: +91 20 3507 0060
E-mail: corporate@emcure.com Website: www.emcure.com CIN: L24231PN1981PLC024251
Emcure
Annexure A
Disclosure under Para (A) of Part (A) of Schedule III to the Regulation 30 SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015:
Sr. No Particulars Information
a) Name of the target entity, details Mantra Pharma Inc., a company incorporated
in brief such as size, turnover etc. under the laws of Quebec, Canada (“Mantra”).
Mantra is engaged in the marketing and
distribution of prescription drugs and natural
health products.
Annual Turnover: CAD $ 96.67 million
Market: Canada
Capital Structure: The issued, subscribed and
paid up share capital is 1,000 Class A Common
Shares and 24,000,000 Class E Special Shares
without par value.
b) Whether the acquisition would The acquisition (by subsidiary into step-down
fall within related party subsidiary) constitutes a related party
transaction(s) and whether the transaction between two wholly-owned
promoter/ promoter group/ subsidiaries, exempted under Regulation 23(5)
group companies have any of LODR Regulations. The transaction shall be
interest in the entity being undertaken at arm’s length basis.
acquired? If yes, nature of interest
and details thereof and whether Except as step-down subsidiary of the
the same is done at “arm’s length” Company, the promoter / promoter group/
group companies of the Company do not have
any interest in Mantra.
c) Industry to which the entity being Pharmaceuticals
acquired belongs
d) Objects and impacts of acquisition In accordance with the terms of the Preferred
(including but not limited to, Share Purchase Agreements entered into during
disclosure of reasons for
the acquisition of Mantra as described in point ‘j’
acquisition of target entity, if its
below, Marcan is purchasing all of the Preferred
business is outside the main line of
shares i.e., Class E Special Shares from certain
business of the listed entity)
shareholders of Mantra.
Emcure Pharmaceuticals Limited
Registered Office: Plot No. P-1 & P-2, IT-BT Park, Phase-II, M.I.D.C., Hinjawadi, Pune - 411057, Maharashtra, India
Phone Nos.: +91 20 – 35070033/ 35070000 Fax No.: +91 20 3507 0060
E-mail: corporate@emcure.com Website: www.emcure.com CIN: L24231PN1981PLC024251
Emcure
e) Brief details of any governmental The acquisition is subject to completion of
or regulatory approvals required requisite compliances in accordance with
for the acquisition applicable laws in Canada. No specific
government approvals are required.
f) Indicative time period for On July 03, 2026
completion of the acquisition
g) Nature of consideration - whether Cash Consideration
cash consideration or share swap
and details of the same
h) Cost of acquisition or the price at An aggregate consideration of
which the shares are acquired CAD $ 50 million.
i) Percentage of shareholding/ 100% of Class E Special Shares
control acquired and/ or number
of shares acquired
j) Brief background about the entity Mantra, a wholly owned subsidiary of Marcan
acquired in terms of products/line Pharmaceuticals Inc. (“Marcan”) was formed on
of business acquired, date of November 06, 2023 under the Business
incorporation, history of last 3 Corporation Act (Quebec) by amalgamation
years turnover, country in which between 9501-2969 Québec Inc. (a company
the acquired entity has presence incorporated and capitalized by Marcan on
and any other significant October 16, 2023), Mantra Pharma Inc. (erstwhile
information (in brief) Mantra), Myriad Pharma Inc., Mantra
Distribution Inc., Holding JFL Inc., Gestion
Nirdac Inc., Gestion Stéphane Turcotte Inc.,
Gestion Beflan Inc. and Gestion Éléoraph Inc.
The company operates primarily in the Canadian
market. The aggregate historical turnover for the
last three financial years is approximately:
Financial Year 2026: CAD $ 96.67 million
Financial Year 2025: CAD $ 81.01 million
Financial Year 2024: CAD $ 28.26 million*
*For the period November 06, 2023 till March 31, 2024.
Emcure Pharmaceuticals Limited
Registered Office: Plot No. P-1 & P-2, IT-BT Park, Phase-II, M.I.D.C., Hinjawadi, Pune - 411057, Maharashtra, India
Phone Nos.: +91 20 – 35070033/ 35070000 Fax No.: +91 20 3507 0060
E-mail: corporate@emcure.com Website: www.emcure.com CIN: L24231PN1981PLC024251