Mankind Pharma Limited announced on June 2, 2026 that its wholly owned subsidiary Mankind Lifesciences Private Limited (MLS) has acquired the remaining 10% stake in Upakarma Ayurveda Private Limited from Kaushcorp Media LLP through a Share Purchase Agreement dated the same day.
With this acquisition, Upakarma has become a wholly owned subsidiary of MLS and a step-down wholly owned subsidiary of Mankind Pharma. MLS previously held 90% in Upakarma and now holds 100%.
Upakarma Ayurveda Private Limited is engaged in trading and selling ayurvedic, herbal and nutraceutical products. The target has an authorized share capital of Rs 2.00 crore, a paid-up share capital of Rs 1.80 crore, and reported turnover of Rs 18.02 crore for the year ended March 31, 2026.
The transaction was executed for a cash consideration of Rs 0.75 crore for the 10% stake, payable in two tranches under the SPA. The acquisition is classified as a related party transaction carried out at arm's length basis, and the promoters of Mankind Pharma have no interest in the deal.
Upakarma was incorporated on November 28, 2017, and became a step-down subsidiary of Mankind Pharma on November 9, 2022. Reported turnover was Rs 18.02 crore in FY26, Rs 13.06 crore in FY25, and Rs 23.04 crore in FY24, with operations confined to India.
The acquisition was completed on June 2, 2026, with no governmental or regulatory approvals required. Disclosures were furnished under Regulation 30 of the SEBI Listing Regulations read with the SEBI Master Circular dated January 30, 2026.
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