Dr Reddy's Lab acquires Kolkata-based NBFC

New Delhi : Dr Reddy's Laboratories announced that it has acquired 100 per cent stake in Imperial Credit Private Ltd, a Kolkata-based non-banking finance company.

The acquisition was for a consideration of Rs 2.05 crore.

"The acquisition process was consummated on receipt of applicable regulatory approvals. The company proposes to undertake the group's captive financial activities through this entity," Dr Reddy's Laboratories said in a regulatory filing.