Kilitch approves sale of Kilitch Estro Biotech stake and INR 57 crore debt conversion into equity
KILITCH · price
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Kilitch will sell its 100% stake in Kilitch Estro Biotech PLC to HarmeeCare Pharmaceuticals for USD 14 million; Kilitch will receive USD 12.855 million. It will convert up to INR 57 crore of KEB debt and service costs into equity. The sale is expected by 31 January 2027, subject to shareholder approval. KEB's FY2026 turnover was INR 47.57 crore, 20.2% of group turnover. Two independent directors were added for five years, pending approval.
The company may raise cash by selling KEB, whose liabilities exceed its assets, but its 20.2% turnover contribution will be lost. Approval is pending.