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The combined entity is valued at Rs 22,481 crore, positioning it as a leading retail health company in India. The merger aims to deliver substantial industry benefits and a pan-India presence, enhancing access to genuine medicines for 1.4 billion Indians within 24 hours.
Advent shall invest in compulsory convertible instruments over 2 tranches to secure 12.1% stake in the merged entity, by valuing the combined entity at an enterprise value of Rs22,481 crore
The Commission approved subscription of compulsorily convertible preference shares of Hero Future Energies Global Limited by Ardor Holdings II Pte. Ltd