Jagsonpal Pharmaceuticals Limited has entered into a Share Purchase Agreement (SPA) to acquire 85% of the paid-up equity share capital of Aequitas Healthcare Private Limited (CIN: U36994MH2017PTC299446).
The Target Company is engaged in the sale and distribution of pharmaceutical products to hospitals.
The acquisition is subject to fulfilment of conditions specified in the SPA.
Target Company Background
Name: Aequitas Healthcare Private Limited
Incorporation Date: September 7, 2017
Business: Sale and distribution of pharmaceutical products to hospitals
Address: Plot 119/120, Jaisingh Business Centre, 3rd Floor, Sahar Road, Andheri East, Mumbai, Maharashtra, India-400099
Financial Performance:
FY 2025-26: Revenue from operations of ₹53.31 crores
FY 2024-25: Revenue from operations of ₹56.19 crores
FY 2023-24: Revenue from operations of ₹53.71 crores
Transaction Terms
Stake Acquired: 85% of paid-up equity share capital
Consideration: Cash consideration aggregating ₹20.8 crore for 85% stake
Funding Source: Internal accruals of Jagsonpal
Remaining Stake: Current Directors of Aequitas shall retain 15% stake and continue to be associated with the business
Strategic Rationale
Aligns with Company's strategic objective of gaining access to the hospital channel and institutional doctor network
Significantly reduces time required to build these relationships organically
Marks Jagsonpal's strategic entry into the hospital segment
Aligned with Company's long-term vision of strengthening presence in India's growing healthcare ecosystem
Moves Jagsonpal from a legacy retail prescription player to Omnichannel Specialty healthcare business
Regulatory and Compliance Aspects
Related Party Transaction: Does not fall within related party transactions
Promoter Interest: Promoter/promoter group of Jagsonpal have no interest in Aequitas Healthcare Private Limited
Government Approvals: No governmental or regulatory approvals required for the proposed acquisition
SEBI Regulation: Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/l/3762/2026 updated as on January 30, 2026
Timeline
Expected Completion: By July 15, 2026
Conditions: Subject to fulfilment of conditions in the SPA and customary closing conditions
Management Commentary
Manish Gupta, Managing Director: "The proposed acquisition of Aequitas represents an important strategic milestone for Jagsonpal. It provides us with a ready platform for a meaningful presence in the hospital segment, which now contributes ~10% of pharma industry sales and growing faster."
Amrut Medhekar, Chief Operating Officer: "This transaction is a structurally transformative pivot that moves Jagsonpal from a legacy retail prescription player to Omnichannel Specialty healthcare business in India."
Shailesh Kamat, Director and largest shareholder at Aequitas: "We are pleased to associate with Jagsonpal Pharmaceuticals, whose proven track record of building healthcare brands and scaling businesses makes us well positioned to take Aequitas to its next phase of growth."
