Eris Lifesciences to buy additional stake in Kinedex

Eris Lifesciences on Saturday said it will buy additional 17.81 per cent share in its step-down firm Kinedex, making it wholly-owned subsidiary. The company, which already owns 82.19 per cent share in the company, has entered into an agreement with Kinedex promoters, Eris Lifesciences said in a regulatory filing.

The company has entered into a share purchase agreement with Rajesh Dhuria, one of the founders and promoters of Kinedex with the intent to have full ownership and control of the said subsidiary, it said.

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Kinedex turnover in FY 2017-18 was Rs 51.22 crore.