Subsidiary11 Jul 2026, 01:30 pm
Mankind Pharma to Incorporate Subsidiary in Netherlands
AI Summary
Mankind Pharma Ltd announced today, July 11, 2026, that its Board of Directors has approved the incorporation of a wholly owned subsidiary in the Netherlands. This new entity will serve as a Special Purpose Vehicle (SPV) for holding investments in R&D assets and pursuing business development activities, particularly in niche therapies. The company also approved the divestment of its 100% stake in Broadway Hospitality Services Private Limited for ₹49 Crores. Broadway contributed 0.07% to Mankind Pharma's turnover and 0.24% to its net worth in the last financial year. The divestment is expected to be completed within 90 days.
Key Highlights
- Mankind Pharma to establish a wholly owned subsidiary in Netherlands.
- New subsidiary will focus on R&D asset investment and business development.
- Company divests 100% stake in Broadway Hospitality Services for ₹49 Crores.
- Broadway's contribution to financials was minimal.
- Divestment aligns with strategy to divest non-core assets.
Price Impact
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