Mankind Pharma to Divest 100% Stake in Broadway Hospitality
Mankind Pharma Ltd announced its Board of Directors has approved the divestment of its entire 100% stake in its wholly-owned subsidiary, Broadway Hospitality Services Private Limited. The transaction is valued at ₹49.00 Crores, subject to closing adjustments. The company also approved the incorporation of a wholly-owned subsidiary in the Netherlands to serve as a Special Purpose Vehicle for R&D asset investments and business development in niche therapies. Broadway contributed 0.07% to Mankind Pharma's turnover/revenue and 0.24% to its net worth as of March 31, 2026. The divestment is part of the company's strategy to divest non-core assets, and the sale is expected to be completed within 90 days. The buyers, AKRK Projects LLP and Partners, do not belong to the promoter group.
Key Highlights
- Mankind Pharma approves divestment of 100% stake in Broadway Hospitality.
- Divestment consideration agreed at ₹49.00 Crores.
- Broadway contributed 0.07% to company's revenue and 0.24% to net worth.
- New wholly-owned subsidiary to be incorporated in Netherlands for R&D investments.
- Transaction is not a related party transaction and sale expected within 90 days.
Price Impact
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