Piramal Pharma to sell its decommissioned unit in MIDC, Thane for Rs 8.50 cr

Piramal Pharma announced that the Administrative Committee of the Board, at its meeting held today, has approved execution of a sale deed and ancillary definitive agreements with Global Pharma (Buyer) for the sale of decommissioned unit located at A-159, MIDC, Wagle Industrial Estate, Thane West 400604 for a proposed consideration of approximately Rs. 8.50 core plus applicable taxes. The transaction is expected to conclude within 90 days, subject to fulfilment of conditions as described in the sale deed.

The company added, "We reiterate that the unit is decommissioned and contributed Nil to the Company's turnover, income, and net worth in the last financial year. Accordingly, sale will have no impact on Company operations."

Powered by Capital Market - Live News