Sale of entire shareholding held by Adita Bio Sys Private Limited (material subsidiary of the Company) in Siri Labvivo Diet Private Limited, a step-down subsidiary, resulting in cessation ....
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Pharmaids Pharmaceuticals, through its material subsidiary Adita Bio Sys Private Limited, has sold its entire shareholding in step-down subsidiary Siri Labvivo Diet Private Limited for Rs. 3 Lakhs. The buyer, Mr. Shivakumar B G, is unrelated to the promoter group or the company. Siri Labvivo was a very small part of the group, contributing only Rs. 14.11 Lakhs (0.73%) to consolidated revenue and a negative Rs. 89.11 Lakhs (-1.62%) to consolidated net worth as of March 31, 2025. The transaction is not a related party deal and was completed on March 27, 2026. As a result, Siri Labvivo has ceased to be a step-down subsidiary of Pharmaids.
The sale is of a tiny, loss-making subsidiary and should have negligible impact on the stock or shareholder value. It is more of a group restructuring cleanup than a strategic move, and the small consideration (Rs. 3 Lakhs) reflects the non-core, underperforming nature of the divested entity.