<h1>Mankind Pharma Divests Stake in Hospitality Unit Approves Creation of Netherlands-Based R&D Subsidiary</h1>
The Board of Directors of Mankind Pharma Limited has approved two significant strategic decisions: the divestment of its entire stake in Broadway Hospitality Services Private Limited and the incorporation of a new wholly owned subsidiary (WOS) in the Netherlands.
The board meeting, held on July 11, 2026, focused on executing the company's strategy to streamline non-core assets while making targeted investments into pharmaceutical research.
Divestment of Broadway Hospitality Services Private Limited
Mankind Pharma has approved the divestment of its 100% stake in Broadway Hospitality Services Private Limited (Broadway), a wholly owned subsidiary. The sale is set to go through within 90 days and has been awarded to AKRK Projects LLP and Partners.The total consideration agreed for the disposal was ₹ 49.00 Crores, subject to any closing adjustments.
Details regarding the performance of Broadway as of March 31, 2026, stand as follows:
| Particulars | Amount (₹ Crores) | Percentage Contributed to Company's Financials |
|---|---|---|
| Turnover/ Revenue | 9.63 | 0.07% |
| Total Income | 9.90 | 0.07% |
| Net Worth | 38.99 | 0.24% |
The buyer for the divestment is AKRK Projects LLP, a Limited Liability Partnership incorporated on January 8, 2020, located in New Delhi, India. The company noted that this transaction does not fall under related party transactions.
Establishing Netherlands-Based R&D Subsidiary
In parallel with the divestment, Mankind Pharma approved the incorporation of a new WOS in the Netherlands. This entity is intended to function as a Special Purpose Vehicle (SPV), specifically designed for holding investments in R&D assets and driving business development activities centered on niche therapies.The company will act as the holding company for this proposed subsidiary. The purpose of the new entity, operating within the Pharmaceutical Industry, is to pursue strategic interests through joint ventures or acquisitions as opportunities arise.
Key details regarding the establishment of the WOS include:
| Particulars | Details |
|---|---|
| Country and Date of Incorporation | Netherlands (Date TBD) |
| Purpose of Subsidiary | Holding investments in R&D assets and business development focused on niche therapies. |
| Parent Company Status | Mankind Pharma will be the holding company. |
| Proposed Investment Cost | Up to Euro 5 Million, structured in one or more tranches to cover setup, operating costs, procurement, and further investments. |
| Shareholding Control | 100% subscription to the share capital. |
MANKIND Stock Price Movement
Shares of Mankind Pharma Limited on Friday slipped by 0.16% to settle at ₹2525.1. The equity saw a traded volume of 524,763 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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