Sale of Land and Building-Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) regulations, 2015
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Awaiting price reaction for this filing.
Phaarmasia Ltd's Board has approved the sale of its land and building located at Plot Nos. 16A and 16B, Phase III, IDA Jeedimetla, Hyderabad. The property will be sold to Mr. Mavuluri Shyam Prasad, Mrs. Mavuluri Raga Sudha, and/or M/s MSP Lab Instruments Pvt Ltd for a cash consideration of not less than Rs. 25 crores, subject to valuation by a registered valuer. The company says the sale is aimed at optimizing its asset portfolio and raising funds for business requirements. The transaction is not a related party deal and is expected to be completed on or before 31 December 2025, subject to shareholder and regulatory approvals.
This is a one-time asset sale that could bring at least Rs. 25 crores in cash to the company for business use. For a small-cap firm, this is a meaningful capital infusion, but the deal still requires shareholder approval and the final price depends on the valuer's report, so investors should wait for confirmation of the closing value and the company's plans for deploying these funds.