LUPIN · Lupin Limited · BSE · Filed 1 Jul · 1 min read

Lupin raises Philippine subsidiary Multicare stake to near-full ownership

Lupin's Dutch arm Nanomi closed a share purchase and subsidiary buy-back on July 1, 2026, lifting its Multicare holding to 99.89% from 56.28%.

What was filed

Lupin told the exchanges that its wholly owned Netherlands subsidiary, Nanomi B.V., has completed the acquisition of shares from certain existing shareholders of Multicare Pharmaceuticals Philippines, Inc. (MPPI). The transaction, first flagged in intimations dated April 1 and May 29, 2026, closed on July 1, 2026. On the same day, MPPI completed a buy-back of its own shares from two existing shareholders, with a further tranche still in progress.

From majority to near-full control

Taken together, the share purchase and the buy-back moved Nanomi's ownership of MPPI to near-complete control effective July 1, 2026, up from a majority position it already held. Lupin noted that part of the buy-back is still being processed, so the structure is not yet fully finalised.

Why it matters to a holder

The step consolidates Lupin's economic and voting interest in a subsidiary it already controlled, moving toward full ownership and removing minority shareholders from the entity. The filing discloses neither the consideration paid nor the financial impact of the change.

Shares acquired by Nanomi from MPPI shareholders: 11,794,497 shares
Shares bought back by MPPI (completed): 61,118 shares
Shares in balance buy-back (in progress): 30,559 shares
Nanomi holding in MPPI (before): 56.28%
Nanomi holding in MPPI (after): 99.89%

The transaction raises Lupin's effective ownership of a Philippine subsidiary to almost 100%, consolidating an entity it already controlled; the filing does not disclose the purchase price or any financial impact, and part of the buy-back remains pending.