Divestment11 Jul 2026, 02:00 pm
Mankind Pharma Divests Broadway Hospitality for ₹49 Cr
AI Summary
Mankind Pharma Ltd's Board of Directors has approved the divestment of its entire 100% stake in its wholly-owned subsidiary, Broadway Hospitality Services Private Limited, for a consideration of ₹49.00 Crores. The transaction is expected to be completed within 90 days. Broadway contributed 0.07% to Mankind Pharma's turnover and 0.24% to its net worth in the last financial year. The company also approved the incorporation of a wholly-owned subsidiary in the Netherlands to hold R&D assets and focus on niche therapies.
Key Highlights
- Mankind Pharma to divest 100% stake in Broadway Hospitality Services.
- Divestment valued at ₹49.00 Crores, subject to closing adjustments.
- Broadway contributed minimally to company's financials (0.07% revenue, 0.24% net worth).
- New Dutch subsidiary to focus on R&D and niche therapies.
- Transaction aims to divest non-core assets as per company strategy.
Price Impact
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