Lenskart Solutions is set to witness a sizeable secondary share sale as existing investor Alpha Wave Ventures II, LP seeks to offload up to 20.8 million shares, equivalent to around 1.2 per cent of the company’s outstanding share capital, through a block deal on Friday.
Hero MotoCorp: Ather stake to rise
The board of Hero MotoCorp has approved an investment of up to ₹1,758 crore to buy additional shares in electric two-wheeler maker Ather Energy, from an existing Ather shareholder. This will result in Hero MotoCorp’s raise in Hero MotoCorp’s stake in the company rising to about 32.8% on a fully diluted basis.
Cipla, Kemwell announce biosimilar JV
Cipla Ltd and Kemwell Biopharma Private Limited, a leading biopharmaceutical Contract Development and Manufacturing Organisation (CDMO), announced execution of a joint venture agreement to develop, manufacture and commercialise biosimilars for global markets. For this purpose, a joint venture company shall be incorporated with the aim of entering the respiratory biosimilars space. Under the terms of the agreement, the joint venture will leverage Cipla’s and Kemwell’s complementary strengths for end-to-end product development, clinical development, regulatory filings, manufacturing, and commercialisation of biopharmaceutical products. Cipla’s respiratory prowess, combined with Kemwell’s expertise in biologics, will accelerate the bringing of these essential products to market.
