SMS Lifesciences India has received approval to divest partial equity shares in Mahi Drugs -- wholly owned subsidiary of the Company, not exceeding 10%, by way of sale of equity shares held by the Company, to ChemWerth Inc, USA, Strategic Investor.
Upon completion of the transactions, Mahi Drugs will cease to be a wholly-owned subsidiary of the Company, but shall continue as a Subsidiary Company with 60% stake of the post issued capital, with the Company. The board of directors at its meeting held on November 30, 2021 has considered and approved the same.
SMS Lifesciences India is presently engaged in the business of manufacturing, buying, selling, offering consultancy, importing and exporting, acting as commission agents and generally dealing with of all types of Organic & Inorganic Chemicals, Pharmaceuticals, API and Intermediates.
