What was filed
Aurobindo Pharma told the exchanges that A1 Biochem Labs (India) Private Limited ("A1 Labs") has ceased to be a wholly-owned subsidiary. The change follows the acquisition of the A1 Biochem group — completed earlier in 2026 by Apitoria Pharma Private Limited, itself a wholly-owned subsidiary of Aurobindo. Under the definitive agreements for that acquisition, A1 Labs issued fresh equity shares and compulsorily convertible debentures to Dr. Rajendra Gadikota, the former promoter of the A1 Biochem group, who now holds 20% of A1 Labs on a fully diluted basis.
The structure after allotment
After the allotment was completed on September 30, 2026, Apitoria holds 80% and Dr. Gadikota holds 20%. A1 Labs remains a subsidiary of Apitoria and a step-down subsidiary of Aurobindo under the Companies Act and SEBI Listing Regulations — it stays within the group, but is no longer wholly owned. The filing adds that Apitoria has an option to acquire this 20% stake in future, per the agreed terms.
Context from the filing
Per the filing, A1 Labs was acquired during the current financial year (July 2026) and therefore contributed no revenue, income or net worth to Aurobindo as on March 31, 2026. Because Dr. Gadikota is a director of A1 Labs, the transaction qualifies as a related party transaction, undertaken at arm's length. The subscription price was set on a fair valuation report from a Chartered Accountant, and the issuance was approved by A1 Labs shareholders through a special resolution.