Shilpa Medicare Limited has announced that it has entered into a Share Purchase Agreement and Shareholders’ Agreement dated October 27, 2025, with Ash Ingredients Inc. and Varcatalyst LLP to sell 31% of its stake in Sravathi Advance Process Technologies Pvt Ltd for a total consideration of ₹49.6 crore, subject to customary closing conditions.
Sravathi Advance Process Technologies, a joint venture of Shilpa Medicare, focuses on advanced differentiated process technologies and research and development. The strategic sale aims to bring in new financial and technological partners to strengthen Sravathi’s growth, innovation capabilities, and global competitiveness in specialty process technology solutions.
After the completion of this transaction, Shilpa’s stake in Sravathi will reduce from 65% to 34%, while the technocrat shareholders will retain 35%, and the new investors—Ash Ingredients Inc. (22%) and Varcatalyst LLP (9%)—will acquire a combined 31% holding.
Under the terms of the agreement, both new investors will have the right to appoint one director each on Sravathi’s Board. The agreement will supersede the earlier joint venture agreement signed in June 2019.
Shilpa Medicare confirmed that the transaction does not impact its management or control and does not qualify as a related party transaction.