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HomeMarket NewsCipla completes 20% stake acquisition in Bengaluru’s iCaltech Innovations
The Indian drugmaker had announced on July 21 that it would invest about ₹5 crore through optionally convertible preference shares and one equity share to secure the stake. The deal, now closed, gives Cipla 20% voting rights in the privately held company, it said in an exchange filing.
By CNBCTV18August 27, 2025, 4:59:15 PM IST (Published)
Cipla Ltd said on Tuesday it has completed the acquisition of a 20% stake in Bengaluru-based iCaltech Innovations Private Limited, strengthening its play in the respiratory care and diagnostics space.
The Indian drugmaker had announced on July 21 that it would invest about ₹5 crore through optionally convertible preference shares and one equity share to secure the stake. The deal, now closed, gives Cipla 20% voting rights in the privately held company, it said in an exchange filing.
iCaltech, an ISO 13485-certified medical device maker, is engaged in the design, development, manufacturing and commercialisation of diagnostic products, with a focus on respiratory applications. It will continue to operate independently following the transaction.
Cipla said the partnership will enable it to build integrated healthcare solutions by combining its pharmaceutical expertise with iCaltech’s medical device technologies.
The Bengaluru-based company reported revenue of ₹6.7 crore in fiscal 2025, compared with ₹4.19 crore a year earlier and ₹1.28 crore in fiscal 2023.
