Pharmaids Pharmaceuticals Ltd. Registers Sale Deed for Land Parcels Totaling 14,975 Sq. Mtrs.

Pharmaids Pharmaceuticals Ltd. has registered the sale deed for three land parcels, amounting to 14,975 sq. mtrs. The sale was approved by the shareholders through a postal ballot on March 24, 2025, and the Board of Directors earlier at its meeting held on February 12, 2025. The sale will not impact the business operations of the company as no business operations are carried out on the said land parcels. The sale constitutes an undertaking in terms of section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of Listing Regulations. The consideration received from the sale is Rs. 19.56 Crores. The buyer, Dr. S. N. Vinaya Babu, is a related party of the company but does not currently belong to the promoter/promoter group/group companies. The buyer will be classified as the Promoters/Promoter Group of the company after the completion of the open offer.