Sale22 Jul 2025, 10:02 am
Piramal Pharma to Sell Decommissioned Unit for Rs. 8.50 Crores
AI Summary
Piramal Pharma Ltd. has announced the sale of its decommissioned unit located at A-159, MIDC, Wagle Industrial Estate, Thane West for a proposed consideration of approximately Rs. 8.50 Crores plus applicable taxes. The unit, which contributed nil to the company's turnover, income, and net worth in the last financial year, was previously under a Memorandum of Understanding (MoU) that has been terminated due to unfulfilled conditions and commercial reasons. The sale is expected to conclude within 90 days, subject to fulfilment of conditions as described in the sale deed. The buyer is unrelated to the promoter/promoter group, and the transaction does not qualify as a Related Party Transaction.
Key Highlights
- Piramal Pharma to sell decommissioned unit for Rs. 8.50 Crores plus taxes.
- The unit contributed nil to the company's turnover, income, and net worth in the last financial year.
- The previous MoU was terminated due to unfulfilled conditions and commercial reasons.
- The sale is expected to conclude within 90 days, subject to fulfilment of conditions.
- The buyer is unrelated to the promoter/promoter group, and the transaction does not qualify as a Related Party Transaction.