Pharmaids Pharmaceuticals Ltd. Announces Sale of Subsidiary Interest
Pharmaids Pharmaceuticals Limited announced the completion of a transaction involving its step-down subsidiary, Siri Labvivo Diet Private Limited, on March 27, 2026. Adita Bio Sys Private Limited, a material subsidiary of Pharmaids Pharmaceuticals, divested its shareholding in Siri Labvivo Diet Private Limited.As a result of this transaction, Siri Labvivo Diet Private Limited is no longer considered a subsidiary of Adita Bio Sys Private Limited, nor a step-down subsidiary of Pharmaids Pharmaceuticals.
The sale involved a consideration of Rs. 3,00,000 and was completed on March 27, 2026. The buyer, Mr. Shivakumar B G, is not affiliated with Pharmaids Pharmaceuticals or its group companies. The transaction does not qualify as a related party transaction.
Financial Contribution of Siri Labvivo Diet Private Limited (as of March 31, 2025):
| Particulars | Amount (Rs.) | Percentage (%) |
|---|---|---|
| Contribution to Consolidated Revenue | 14,11,220 | 0.73 |
| Contribution to Consolidated Net Worth | (89,11,119) | (1.62) |
The transaction did not occur outside of a scheme of arrangement, and no indicative disclosures related to amalgamation or merger were applicable.
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