Emcure Pharma To Acquire Remaining 12.05% Stake In Gennova For ₹231.87 Crore

Emcure Pharmaceuticals is taking full ownership of its biopharma subsidiary Gennova Biopharmaceuticals, buying out the remaining 12.05% stake held by the company's chief executive Sanjay Singh and other individual shareholders for ₹231.87 crore in a transaction expected to close by 31 July 2026.

Emcure currently holds 87.95% of Gennova. The share transfer agreements have been signed with all individual shareholders for 663,865 equity shares. The consideration will be paid in one or more tranches. The deal is classified as a related-party transaction given Gennova's existing subsidiary status but will be conducted on an arm's-length basis.

Who Is Exiting?

Sanjay Singh, who spent nearly 20 years leading Gennova, is exiting to form a new company called Immunoscript Lifesciences. As part of the transition, Gennova has divested its mRNA business to Singh.

Samit Mehta will now lead Gennova as it refocuses entirely on biologics and biosimilars. The company will build around its existing brands, Elaxim, Tenectase, Vintor and Xgrast, alongside a pipeline of biosimilars under development and adjacent therapeutic platforms. Its mammalian and microbial biomanufacturing capabilities will remain central to the business.

Stock And Strategic Context

Emcure Pharmaceuticals shares closed 1.4% lower at ₹1,789 ahead of the announcement on Monday, though the stock is up approximately 28% year-to-date and over 32% in the past twelve months.

As of 3:14 PM on Tuesday, the shares were up 0.93% and were trading at ₹1,810.00.

Emcure Managing Director Satish Mehta said the acquisition simplifies Gennova's ownership structure, sharpens its strategic focus on biologics and biosimilars and positions it for the next phase of growth under new leadership.

Gennova's Financial Profile

• FY26 turnover: ₹491.7 crore

• FY26 profit after tax: ₹5.4 crore

• FY25 turnover: ₹429.9 crore

• FY24 turnover: ₹422.1 crore

Revenue has grown steadily over three years, though profitability remains thin relative to the topline. Emcure said the transaction will not have a material impact on its consolidated financials or capital allocation framework.

Also Read - Tata Power Eyes $450 Million External Commercial Borrowing To Fund Renewable Energy Push