Announced Sat, 11 Jul · 13:27 IST
Mankind Pharma to divest Broadway unit for Rs 49 cr, set up Netherlands arm
Strategic Transactions View source PDF
MANKIND · price
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Price reaction · full curve 14 horizons · vs prior close
-0.1%1-day move
₹2528.00
prior close
₹2525.10
base price
After-mkt
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AI summary
Mankind Pharma board on July 11 approved selling its 100% stake in Broadway Hospitality Services (wholly owned subsidiary) to AKRK Projects LLP for Rs 49 crores. Broadway contributed just 0.07% of revenue and 0.24% of net worth in FY26, making it a non-core asset. The board also approved a new wholly owned subsidiary in Netherlands as an SPV for R&D and business development in niche therapies, with planned investment up to Euro 5 million.
Likely market impact
Minor positive. Non-core Broadway divestment frees Rs 49 cr; Netherlands WOS signals niche therapy R&D push. Broadway is only 0.07% of revenue, so impact is limited.