Symbiosis Pharmaceutical Services Limited, Galaxy Vitacare Private Limited made an offer to acquire a 26% stake in Prism Medico and Pharmacy Limited (BSE:512217) from its shareholders for INR 17.34 million on November 28, 2022. Symbiosis Pharmaceutical Services Limited, Galaxy Vitacare Private Limited and Ramit Walia will acquire upto 1.57 million shares at INR 11 each. The acquirers have adequate internal resources to fund the acquisition.

The offer will commence from January 18, 2023, and will close on February 1, 2023. As of February 9, 2023, the offer will commence from February 21, 2023 and will close on March 6, 2023. Sarthak Vijlani of Navigant Corporate Advisors Limited (BSE:539521) acted as financial advisor to Symbiosis Pharmaceutical Services Limited, Galaxy Vitacare Private Limited and Ramit Walia.

Deepali Dhuri of Purva Sharegistry (India) Pvt. Ltd. acted as a registrar to the offer. As of February 17, 2023.

Navigant Corporate Advisors Ltd has submitted to BSE a copy of Submission of Advertisement of committee of independent directors in terms of Regulation 26 (7) of SEBI SAST 2011 of Prism Medico and Pharmacy Ltd.