Jubilant Life Sciences, an integrated pharma and life sciences company, announced that Jubilant Pharma (JPL), a Singapore company and wholly-owned subsidiary of Jubilant Life Sciences, through Jubilant Generics, a Delaware corporation and an indirect wholly-owned subsidiary of JPL, (Jubilant Generics) has commenced a tender offer to acquire all outstanding shares of common stock of Cadista Holdings, a Delaware corporation (Cadista), not currently owned by JPL or its subsidiary companies.

As of the date of this letter, JPL, through Jubilant Pharma Holdings, currently holds approximately 82.4% of the outstanding shares of common stock of Cadista. The tender offer transaction is being conducted in accordance with the federal laws of the United States and the state law of Delaware.

Shares of the company gained Rs 1.95, or 1.43%, to trade at Rs 137.85. The total volume of shares traded was 6,885 at the BSE (11.11 a.m., Friday).