Mankind Pharma divests Broadway Hospitality for ₹49 Cr, plans €5 Million Netherlands unit
Mankind Pharma approved the sale of its 100% stake in Broadway Hospitality Services Private Limited to AKRK Projects LLP and Partners for ₹49.00 Cr, marking an exit from non-core assets. The transaction, expected to close within 90 days, is not a related party transaction. Additionally, the board authorized setting up a wholly owned subsidiary in the Netherlands with an investment of up to Euro 5 Million to hold R&D assets and focus on niche therapies.
*this image is generated using AI for illustrative purposes only.
Mankind Pharma Limited has approved the divestment of its entire 100% stake in Broadway Hospitality Services Private Limited for a total consideration of ₹49.00 Cr. The sale to AKRK Projects LLP and Partners is part of the company's strategy to exit non-core assets and is expected to be completed within 90 days. The transaction does not fall within related party transactions, and the buyers are not part of the promoter group. The board, which met on July 11, 2026, also authorized the execution of the Share Purchase Agreement.
Financials of Broadway Hospitality Services
Broadway Hospitality Services reported a turnover of ₹9.63 Cr and a net worth of ₹38.99 Cr as of March 31, 2026, contributing marginally to Mankind Pharma's overall financials. The table below provides a breakdown of the subsidiary's financial contribution.
| Particulars | Amount (₹ Crores) | % Contribution to Company's Financials |
|---|---|---|
| Turnover / Revenue | 9.63 | 0.07 |
| Total Income | 9.90 | 0.07 |
| Net Worth | 38.99 | 0.24 |
Key Transaction Details
The divestment is structured as a clean exit from a non-core hospitality business. Key parameters of the transaction are outlined below.
| Parameter | Details |
|---|---|
| Buyer | AKRK Projects LLP and Partners |
| Consideration | ₹49.00 Cr (subject to closing adjustment) |
| Completion Timeline | Within 90 days |
| Related Party Transaction | No |
Netherlands Subsidiary for R&D and Niche Therapies
Separately, the board approved the incorporation of a wholly owned subsidiary in the Netherlands to function as a Special Purpose Vehicle. This entity will hold investments in research and development assets and focus on business development activities for niche therapies. The proposed investment for this subsidiary is up to Euro 5 Million, to be infused in one or more tranches.
The new subsidiary will operate within the pharmaceutical industry, potentially through joint ventures or strategic acquisitions. The incorporation is subject to approvals under the Foreign Exchange Management Act and relevant regulations from the Reserve Bank of India and authorities in the Netherlands.
Historical Stock Returns for Mankind Pharma
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.47% | +0.62% | +6.84% | +13.31% | -5.69% | +78.80% |
How does Mankind Pharma plan to utilize the ₹49.00 Cr proceeds from the divestment?
What specific niche therapies will the new Netherlands subsidiary target for R&D and business development?
Will the Netherlands subsidiary pursue strategic acquisitions or joint ventures within the next fiscal year?
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