TTK Healthcare Limited updates on business transfer agreement

In terms of the Business Transfer Agreement dated 21st March, 2022, TTK Healthcare Limited received from M/s. BSV Pharma Pvt. Ltd. a sum of Rs.593.11 crores on 9th May, 2022 (being 74% of the consideration after the preliminary adjustments for working capital) in cash and the balance Rs.208.39 crores being the 26% of consideration was received in the form of Equity Shares (20,83,90,260 Equity Shares of Rs.10/- each) allotted in our favour in the said M/s. BSV Pharma Pvt. Ltd., on 9th May, 2022.

The Agreement also provided for the purchase of the aforesaid 26% Equity Shares held by us in M/s. BSV Pharma Pvt. Ltd., by M/s Bharat Serums and Vaccines Limited or its nominees, after they obtain necessary regulatory clearances.

Consequent upon the receipt of necessary regulatory clearances by M/s Bharat Serums and Vaccines Limited, they have today remitted a sum of Rs.208.39 crores towards the consideration for the purchase of the said 20,83,90,260 Equity Shares of Rs.10/- each held by us in M/s BSV Pharma Pvt. Ltd., and the said shares are being transferred to them.

Shares of TTK Healthcare Limited was last trading in BSE at Rs. 996.25 as compared to the previous close of Rs. 1004.05. The total number of shares traded during the day was 2084 in over 371 trades.

The stock hit an intraday high of Rs. 1018.15 and intraday low of 979.00. The net turnover during the day was Rs. 2072239.00.

Source : Equity Bulls

Keywords

TTKHealthcare INE910C01018 BusinessTransfer BSVPharma