Board approves acquisition of 70% stake in SN Genelab Private Limited

Board approved acquiring a 70% stake in SN Genelab Private Limited (SN Gene), a Gujarat-based genomics diagnostics company.

Thu 24 Sep 2026

Acquisition Stake

70% stake in SN Genelab Private Limited

Acquisition Cost

Upto INR 168 Crores plus performance-linked earn out capped at INR 31.5 Crores

SN Gene FY 2026 Turnover

57.96 Crores

SN Gene FY 2025 Turnover

53.36 Crores

Completion Target Date

November 30, 2026

What was approved

The Board, at its meeting on September 24, 2026, approved the acquisition of a 70% stake in SN Genelab Private Limited (SN Gene) from its existing shareholders. After the acquisition, SN Gene becomes a subsidiary.

Deal terms

• Consideration: cash
• Cost: Upto INR 168 Crores for the 70% stake
• Plus a performance-linked earn out capped at INR 31.5 Crores
• Completion targeted by November 30, 2026
• No governmental or regulatory approval required
• Not a related party transaction

About the target

SN Gene was incorporated on December 16, 2013 in Gujarat and provides Diagnostics - Genomics services.

Turnover history

• FY 2026: 57.96 Crores
• FY 2025: 53.36 Crores
• FY 2024: 43.27 Crores

Stated rationale

To strengthen the Company's expertise in genomics and broaden its portfolio of advanced diagnostic services. Genomics testing is a specialised, higher-value segment within diagnostics, and the target already operates in that line.

How to read this

An earn out means part of the price is payable only if agreed performance milestones are met, which links a portion of the outflow to future results. A 70% stake gives control, so SN Gene's financials would be consolidated as a subsidiary. The remaining 30% stays with the existing shareholders.

The Board meeting began at 04:40 P.M. (IST) and concluded at 05:11 P.M. (IST).

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