Vimta Labs Ltd enters into BTA with Thyrocare Technologies Ltd

Vimta Labs Ltd has entered into Business Transfer Agreement "BTA" on 30th August 2024, around 11.00 AM with, Thyrocare Technologies Limited ("Thyrocare"). By this agreement, our Company will be transferring and selling its Diagnostics and pathological services business to Thyrocare as a going concern (on a slump sale basis). The said transfer is subject to the fulfilment of the Conditions Precedent ("CP").

The turnover of the Diagnostics and pathological services business was Rs 296.67 million, being 9.32% of the consolidated turnover of the company as on 31st March 2024. Net worth of the business was Rs 21.7 million being 0.69% of consolidated net worth of the company as on 31st March 2024.

The sale consideration to be received is cash consideration of Rs 70 million.

Shares of Vimta Labs Limited was last trading in BSE at Rs. 625.80 as compared to the previous close of Rs. 641.95. The total number of shares traded during the day was 20750 in over 1496 trades.

The stock hit an intraday high of Rs. 648.20 and intraday low of 620.55. The net turnover during the day was Rs. 13050152.00.

Source : Equity Bulls

Keywords

VimtaLabs INE579C01029 BusinessTransferAgreement ThyrocareTechnologies Diagnostics PathologicalServices