Bilcare Ltd has announced that its wholly based subsidiary, Bilcare Singapore has bought 100% stake in Singular ID Pte Ltd, manufacturer of the Enxure integrated brand security system, for 19.58 million Singapore dollar.

Bilcare Singapore provides integrated packaging solutions, including research services, clinical trial services and production of packaging materials.

Creating and developing innovative and viable anti-counterfeit technologies and products has been one of the core research initiatives at the company. This acquisition underlines the importance that Bilcare places on offering state-of-the-art anti-counterfeit solutions, more particularly in the form of end user oriented and fully integrated systems, an official release said.

Mohan Bhandari, Chairman and Managing Director of the company said, "With counterfeit products not only affecting trust and safety of the consumer, but damaging the reputation and bottom line of the industry as well, there has been a dire need for a robust and scalable anti-counterfeit solution. I am delighted to bring Singular ID into the Bilcare group and greatly strengthen our vital product offerings."

The stock of Bilcare Limited, on Friday, closed at Rs. 1630, down by 3% compared with previous close of Rs. 1673.