Mankind Pharma to sell stake in Mahananda Spa and Resorts for Rs 530 crore
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New Delhi: Drugmaker, Mankind Pharma, has announced the sale of its entire stake in Mahananda Spa and Resorts Private Limited, a Wholly Owned Subsidiary Company to Chalet Hotels Limited for an enterprise value of Rs 530 crore. The proceeds of monetization of non-core assets to be utilized to retire part of its debts.
"Pursuant to Regulation 30 of the Listing Regulations, we wish to inform you that the Board appointed Committee of Independent Directors in its meeting held today i.e. February 10, 2025 approved the sale of entire stake held by the Company in Mahananda Spa and Resorts Private Limited (“Mahananda”), a Wholly Owned Subsidiary Company to Chalet Hotels Limited," the Company stated in a BSE filing.
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