Mankind Pharma to Sell Entire Stake in Mahananda Spa and Resorts to Chalet Hotels for Rs. 5300 Million

Mankind Pharma Limited has announced the sale of its entire stake in Mahananda Spa and Resorts Private Limited to Chalet Hotels Limited. The transaction is expected to be completed by February 28, 2025, with the proceeds being used to retire part of Mankind Pharma's debts. Mahananda is a wholly owned subsidiary of Mankind Pharma and contributed 0.72% to the company's turnover in the financial year ended March 31, 2024. Chalet Hotels Limited is an Indian Hotel Chain Company founded in 1986 and part of the K Raheja Corp Group.