The Competition Commission of India (CCI) has granted approval for the acquisition of the remaining 30% equity stake in Signet Excipients Private Limited by IMCD India Private Limited. This move involves the exercise of a call option by IMCD India Private Limited to acquire the outstanding equity stake in Signet Excipients Private Limited. IMCD India Private Limited, an indirect wholly owned subsidiary of IMCD N.V., operates from Mumbai, India, and IMCD N.V. is a Dutch entity with a global presence.
IMCD India Private Limited focuses on the sales, marketing, and distribution of specialty chemicals, including food and pharma ingredients, across various product segments in the Indian market. These segments include Pharmaceutical Excipients, Food and Nutrition Ingredients and Excipients, Coatings and Construction chemicals, Advanced Materials (Plastic Additives and Composites), Lubricants and Fuels chemicals and additives, Textile chemicals and additives, and Beauty and Personal Care ingredients.
Currently, IMCD India Private Limited and the promoters jointly control 70% and 30% of the equity share capital of Signet Excipients Private Limited, respectively. Signet Excipients Private Limited operates exclusively within India, with minimal sales through exports in the Indian subcontinent and Africa. The company is involved in the sales, marketing, distribution, import, or export of excipients used in pharmaceuticals, nutraceuticals, biotech, food, API products, and related items for pharmaceutical formulation.
The approval from CCI signifies the regulatory clearance for IMCD India Private Limited to complete the acquisition of the remaining equity stake, further consolidating its position in Signet Excipients Private Limited.
