Deals12 Feb 2025, 03:18 am
Mankind Pharma Completes Stake Sale of Mahananda Spa and Resorts for Rs. 5,620.46 Million
AI Summary
Mankind Pharma Ltd has completed the sale of 100% of the Equity Shares and 100% of 0.01% Optionally Convertible Non-Cumulative Redeemable Preference Shares of Mahananda Spa and Resorts Private Limited to an unnamed buyer. The sale was for a cash consideration of Rs. 5,300 Million along with closing adjustments of Rs. 320.46 Million, making the total deal value Rs. 5,620.46 Million. This information was shared in a final update on the stake sale and was submitted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Key Highlights
- Mankind Pharma has completed the sale of its stake in Mahananda Spa and Resorts Private Limited.
- The sale was for a cash consideration of Rs. 5,300 Million with additional closing adjustments of Rs. 320.46 Million.
- The total deal value is Rs. 5,620.46 Million.
- The sale was executed on February 11, 2025.
- The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.