PVP Ventures Limited has informed the Exchange about the completion of first phrase of acquisition of stake in 7Med India Private Limited ("7Med").

PVP Ventures has completed the first phase of its acquisition of a stake in 7Med India Private Limited, a top-five player in India's dialysis services sector. With this completion, PVP now holds 14,939 equity shares, representing 33.24% of 7Med's paid-up share capital, with a binding agreement to scale up to 50.62% within twelve months. The total outlay for the full majority stake is approximately INR 127 crores, funded through a cash consideration combining primary and secondary share purchases. 7Med reported an EBITDA of around INR 10 crore for the current financial year. The deal is a pure diversification move into healthcare, as 7Med's business is outside PVP's main line, and it is not a related-party transaction.