Cipla to infuse ZAR 900 mn in South African arm

New Delhi: Pharma major Cipla Ltd on Monday said it will invest about ZAR 900 million (nearly Rs 415 crore) in equity share capital of its South African arm Cipla Medpro South Africa Proprietary Ltd. Cipla Medpro South Africa Proprietary Ltd (CMSA), is a wholly-owned subsidiary of Cipla, and is the holding firm for the group operations in South Africa. The group is involved in the manufacturing, marketing, and supply of pharmaceutical products. "The investment will be utilised to reduce inter-group debt and improve the capital structure of CMSA and its subsidiaries," Cipla said in a regulatory filing. The transaction is expected to be completed on or before February 28, 2025 or such other date mutually agreed between the parties, it added`