Mankind Pharma's BSV Pharma to merge with Bharat Serums

Mankind Pharma Limited [BSE: 543904] announced today the approval from the National Company Law Tribunal (NCLT) for the amalgamation of BSV Pharma Private Limited, a step-down subsidiary, with Bharat Serums and Vaccines Limited, a material subsidiary. The scheme, effective retroactively from May 9, 2022 upon filing the certified order, aims to consolidate similar businesses, achieve a simplified corporate structure and optimize resource utilization. As BSV Pharma is a wholly owned subsidiary of the Transferee Company, there will be no cash consideration or change in Mankind Pharma's shareholding pattern. BSV Pharma reported a turnover of ₹810.92 million INR, and Bharat Serums a turnover of ₹14.26 billion INR for the financial year 2023-24. The amalgamation is expected to enhance overall business efficiency and shareholders' value by enabling the companies to combine their managerial and operational strength and build a wider capital and financial base.