Park Medi World's Subsidiary Divests Stake in Devina Derma for INR 0.06 Crore
Park Medi World Limited has announced a strategic divestment concerning one of its subsidiaries, Aggarwal Hospital and Research Services Private Limited. The company's subsidiary has approved the sale of its entire 55% shareholding in Devina Derma Private Limited, resulting in consideration received amounting to INR 0.06 crore.The transaction involves the transfer of the stake in Devina Derma Private Limited (a subsidiary of Aggarwal Hospital and Research Services Private Limited) to Zen Zone Healthcare Private Limited, which is based in Gurugram, Haryana. The buyer, Zen Zone Healthcare Private Limited, does not belong to the promoter or promoter group of Park Medi World Limited.
This divestment follows the inability of the relevant parties to fulfill certain prerequisite conditions stipulated within the transactional documents, which were noted to potentially impact the operational efficiency and financial flexibility of the Group.
Upon the successful completion of the transaction, Devina Derma Private Limited will cease to be a subsidiary of Aggarwal Hospital and Research Services Private Limited and consequently of Park Medi World Limited.
Park Medi World has stated that the management views this divestment as a prudent and value-accretive decision. The measure is intended to streamline the corporate structure, eliminate operational uncertainties, and allow the Group to redeploy focus and resources toward core strategic priorities.
The details regarding Devina Derma Private Limited's financial standing during the period leading up to the sale are presented below:
| Metric | Details |
|---|---|
| Turnover (FY ended March 31, 2026) | Rs. 0.45 crores, which is 0.03% of the consolidated turnover of Park Medi World Limited. |
| Net Worth | Negative INR (0.34). |
The agreement for the sale was entered into on June 05, 2026, and the expected date of completion remains set for the same day.
PARKHOSPS Stock Price Movement
Park Medi World Limited shares slipped by 1.31% in the market today, closing at ₹281.75 after shedding ₹3.75 from its previous close. The stock saw trading volume of 569,944 shares and recorded a day low of ₹280.70 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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