The Board of Bliss GVS Pharma Ltd unanimously approved the disinvestment of the step down subsidiary of the company, Bliss GVS Healthcare Limited, Nairobi.
Bliss GVS Clinic Healthcare Pte Ltd., Singapore, 100% subsidiary of Bliss GVS Pharma Ltd., has entered into definitive agreements with Mayfair Healthcare Holdings Ltd for the sale of 51% shares of Bliss GVS Healthcare Ltd., Kenya, a step-down subsidiary, for a cash consideration of US$ 12 million. The transaction is subject to customary closing formalities and parties intend to close the transaction by March 15, 2018.
The company has thus chosen to exit the competitive tender-based model of managed healthcare services and realign its focus on its core pharmaceutical operations, which have been a steady source of growth.
Shares of BLISS GVS PHARMA LTD. was last trading in BSE at Rs.202.85 as compared to the previous close of Rs. 200.9. The total number of shares traded during the day was 347764 in over 1584 trades.
The stock hit an intraday high of Rs. 205.1 and intraday low of 198.7. The net turnover during the day was Rs. 70177787.