Castilia Life Sciences increases stake in Hikal to 34.83%

Castilia Life Sciences Private Limited has acquired a substantial stake in Hikal Limited through a scheme of amalgamation. This acquisition involves shares previously held by Shri Rameshwara Investment Private Limited and Shri Badrinath Investment Private Limited, which have vested in Castilia Life Sciences Private Limited. The scheme was sanctioned under Section 233 of the Companies Act, 2013, with confirmation dated November 18, 2025, and became effective upon filing of Form INC-28 on December 3, 2025.

Before the acquisition, Castilia Life Sciences held no shares in Hikal, while its persons acting in concert (PACs) collectively held 10.31% of voting rights, totaling 12,720,100 shares. Following the amalgamation, Castilia Life Sciences acquired 30,231,914 shares, representing 24.52% of Hikal's total share/voting capital. The combined holding of Castilia Life Sciences and its PACs now stands at 42,952,014 shares, equating to 34.83% of Hikal's total diluted share/voting capital.

This acquisition is exempt from an open offer under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The equity share capital and total voting capital of Hikal Limited remain unchanged at 123,300,750 shares before and after the acquisition.