Sastasundar Ventures Limited has announced a significant change in its shareholding structure following the completion of a buyback offer by its material subsidiary, Sastasundar Healthbuddy Limited (SHBL). The buyback, which targeted shares held by Mitsubishi Corporation, has resulted in an increase in Sastasundar Ventures' stake in SHBL from 72.14% to 78.89%.

Buyback Details

The buyback offer, which was initially approved by SHBL's board and subsequently by shareholders at an extraordinary general meeting, has now been successfully executed. Here are the key details of the transaction:

Impact on Shareholding

As a result of this buyback, Sastasundar Ventures' ownership in SHBL has increased significantly. It's worth noting that Sastasundar Ventures, as the parent company, did not participate in the buyback offer, which was targeted specifically at the shares held by Mitsubishi Corporation.

About Sastasundar Healthbuddy Limited

SHBL, incorporated in 2011, is a key player in the healthcare sector. Here's a snapshot of the company:

Recent Financial Performance

SHBL has shown fluctuating turnover figures over the past three fiscal years:

This buyback transaction marks a significant corporate action for Sastasundar Ventures, potentially strengthening its control over its subsidiary operations in the healthcare sector. The move may be seen as a strategic step to consolidate the group's position in the wholesale trading of medicinal and healthcare products.

Sastasundar Ventures , through its material subsidiary Sastasundar Healthbuddy Limited (SHBL), has announced a significant share buyback program, demonstrating confidence in its financial position and commitment to enhancing shareholder value.

Buyback Details

The Board of Directors of Sastasundar Healthbuddy Limited approved a buyback proposal with the following key details:

This strategic move is subject to shareholder approval from Sastasundar Healthbuddy Limited.

Regulatory Compliance and Trading Window

In compliance with regulatory requirements, Sastasundar Ventures has disclosed this material development to the stock exchanges. The company has implemented the following measures:

• The trading window for company securities will remain closed for designated persons and their immediate relatives.
• The closure is effective immediately and will continue until further notice.

This temporary restriction on trading aligns with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct for preventing insider trading.

Impact and Outlook

The buyback initiative, valued at Rs 100.00 crore, signals the management's confidence in the company's future prospects and its commitment to returning value to shareholders. By reducing the number of outstanding shares, the buyback could potentially lead to improved earnings per share and overall shareholder value.

Investors and market participants will be closely watching the shareholder approval process and the subsequent execution of the buyback program. The move may also impact the stock price and trading volumes of Sastasundar Ventures, given SHBL's status as a material subsidiary.

As the healthcare and digital health sectors continue to evolve, Sastasundar Healthbuddy's strategic decisions will be crucial in shaping its market position and financial performance.