Narayana Hrudayalaya Ltd to transfer few clinics in Bangalore and Hosur to subsidiary

Narayana Hrudayalaya Limited has signed and entered into a Business Transfer Agreement on 24th March 2023 to transfer its business of running and operating few clinics situated in Bangalore and Hosur as a 'going concern' on slump sale basis to NH Integrated Care Private Limited, wholly owned subsidiary company (Buyer).

The BTA was executed amongst the parties with an agreed consideration of Rs. 10,00,00,000 (Rupees Ten Crores)subject to adjustment of the price to reflect the value of assets and goods to be transferred on the effective date being close of business hours on 31st March 2023.

Pursuant to the BTA, the Clinics of NHL situated at Electronic City, Sarjapur, Jayanagar, Langford Town and Manipal County Road within the jurisdiction of Bangalore and a Clinic situated in Hosur, Tamil Nadu shall be transferred to NH Integrated Care Private Limited on the proposed effective date being close of business hours on 31st March 2023.

Turnover of the said clinics Business for the period 1st April 2022 to 28th February 2023 is Rs. 1095 Lacs.

The net worth of the said clinics to be transferred, as on 28th February 2023 is Rs. 998 Lacs.

Shares of Narayana Hrudayalaya Ltd. was last trading in BSE at Rs. 772.75 as compared to the previous close of Rs. 775.95. The total number of shares traded during the day was 2652 in over 300 trades.

The stock hit an intraday high of Rs. 782.65 and intraday low of 765.00. The net turnover during the day was Rs. 2047865.00.

Source : Equity Bulls

Keywords

NarayanaHrudayalaya INE410P01011 Clinics Bangalore Hosur SlumpSale NHIntegratedCare