Pursuant to Regulation 30 read with Part-A of Schedule-III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that M/s. Miljon Medi App ....
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Globalspace Technologies has informed BSE that Miljon Medi App LLP, in which it held an investment, was converted into a private limited company (Miljon Medi App Private Limited) effective March 29, 2025. As a result of this conversion, the entity has become a 95%-owned subsidiary of Globalspace. The entity operates in the medical/generic medicines industry, has a paid-up capital of about Rs. 93.43 lakh, and reported zero turnover in FY25 (Rs. 1.05 crore in FY24). The company clarified this is not a fresh acquisition but an LLP-to-company conversion, so no cash consideration was paid. The promoter director of Globalspace also serves as director and shareholder in the new subsidiary.
This brings a small medical-sector entity into Globalspace's consolidated books, but with negligible current revenue it is unlikely to move the needle on financials. The two-month delay in intimating the exchange is a minor governance red flag but not a material risk for shareholders.