TTK Healthcare stock price jumped over 10 percent in the afternoon trade on March 21 to hit a fresh 52-week high of Rs 969.75 apiece, after the company approved sale of its human pharma division.
"The Board of Directors of TTK Healthcare in their meeting held on March 21, 2022, based on the recommendation of the audit committee, approved the proposal of sale / transfer of Human Pharma Division of the Company, as a going concern, on slump sale basis," the company said in an exchange filing.
"Pursuant to this decision, definitive agreements have been concluded with M/s BSV Pharma Private Limited (BS\4 and Miransa Limited, (an atflliate of Advent lnternational), with the closing of the transaction contemplated there under being subject to the approval of the shareholders by means of a postal ballot process and fulfilment of conditions precedent'that are customary in such transactions. Pursuant to the said agreement, the consideration will be settled by BSV to the Company to the extent of 74% in cash and 26% by way of allotment of equity shares," it added.
At 1:45pm the scrip traded at Rs 880 apiece on the BSE, up 8.88 percent, while the benchmark Sensex was down 467.08 points or 0.81 percent at 57,396.85.