Pharmaids Pharmaceuticals Limited has completed the sale of its entire 66.50% partnership stake in Anugraha Chemicals, marking a significant change in its business portfolio. The transaction, which took place on September 18, 2025, saw the stake being acquired by Mrs. Sneha Hadimani for a cash consideration of Rs 6,65,000.

Transaction Details

The divestment was executed through an Exit/Reconstitution Deed, following approvals from shareholders via postal ballot on August 14, 2025, and the Board of Directors on July 4, 2025. As a result of this transaction, Anugraha Chemicals has ceased to be a material subsidiary of Pharmaids Pharmaceuticals.

Financial Impact

The sale represents a significant shift for Pharmaids Pharmaceuticals, considering Anugraha Chemicals' substantial contribution to the company's financials:

Additional Financial Considerations

While the immediate consideration for the partnership stake is Rs 6.65 lakh, it's important to note that this amount is part of a larger financial arrangement. The company clarified that the total value of the transaction, previously disclosed as Rs 10.50 crore, includes:

• Capital contributions made in multiple tranches
• Loans extended to Anugraha Chemicals amounting to Rs 3,06,75,000 with accrued interest
• Sharing of accumulated losses as a partner
• Rs 26,34,712 towards settlement of employee-related dues

These additional amounts for loans, interest adjustments, and other dues are expected to be received separately.

Termination of Investment Agreement

Concurrent with the stake sale, Pharmaids Pharmaceuticals has also executed a Termination Agreement to end the Investment Agreement dated January 25, 2023. This termination effectively concludes all agreements, arrangements, and contracts between the parties involved.

Regulatory Compliance

The transaction has been conducted in compliance with regulatory requirements. It does not fall under related party transactions, and the buyer is not affiliated with the promoter group or group companies of Pharmaids Pharmaceuticals.

Conclusion

This divestment represents a strategic move for Pharmaids Pharmaceuticals, potentially allowing the company to realign its focus and resources. Shareholders and market observers will likely be keen to see how this transaction impacts the company's future financial performance and strategic direction.

Pharmaids Pharmaceuticals Limited has successfully concluded the sale of three land parcels in Karnataka to its Chairman, Dr. S. N. Vinaya Babu, for Rs 19.56 crores. The transaction, which involves approximately 13,975 square meters of land in the Hirehalli Industrial Area of Tumkur District, marks a significant development for the company.

Transaction Details

The sale, completed on September 6, 2025, involves three distinct land parcels:

1. 4,040 sq. meters at Plot No. 47-P2, Hirehalli Industrial Area
2. 5,901 sq. meters at Plot No. 47, Sy. No. 53, Manchakalkuppe Village
3. 4,034 sq. meters at Plot No. 46, Hirehalli Industrial Area

Corporate Governance and Approvals

The transaction, classified as a related party transaction, was conducted at arm's length and received necessary approvals:

• Shareholder approval via postal ballot on March 24, 2025
• Board of Directors' approval on February 12, 2025
• Sale deed execution on August 29, 2025

Impact on Business Operations

Pharmaids Pharmaceuticals has stated that the sale will not affect its business operations, as no activities were being carried out on these land parcels.

Buyer Details and Open Offer

Dr. S. N. Vinaya Babu, the buyer, currently serves as the Chairman and Non-Executive & Non-Independent Director of Pharmaids Pharmaceuticals. Following this transaction:

• Dr. Babu has made an open offer to public shareholders
• Upon completion of the open offer, he will be reclassified as part of the Promoter/Promoter Group

Regulatory Compliance

The company has complied with the necessary regulations, including:

• Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements
• Section 180(1)(a) of the Companies Act, 2013
• Regulation 37A of Listing Regulations

Prasanna Subramanya Bhat, Company Secretary & Compliance Officer of Pharmaids Pharmaceuticals, confirmed the transaction details in a filing to the BSE Limited.

This land sale represents a strategic move for Pharmaids Pharmaceuticals, potentially streamlining its asset portfolio while providing additional capital for future endeavors.