PVP Ventures has received approval for the acquisition of 10,000 equity shares (Purchase Shares) of Rs 10 of Humain Healthtech (HHTPL) for a consideration of Rs 22.49 crore (Total Consideration). The consideration payable shall be partly discharged by way of issue and allotment of 1,29,00,000 equity shares of the company (Subscription Shares) having face value of Rs 10 each, at a price not less than the price determined in accordance with Chapter V of the SEBI Regulations (Share Consideration), and the remaining being paid as cash (Cash Consideration). The Board of Directors at its meeting held on August 24, 2023, has approved the same.
The company is planning to foray into the Diagnostic Industry, considering the emerging opportunities available in the sector of Health care Industry and thus enhancing the value creation for all the stakeholders. The members in the last Annual General Meeting have altered the Memorandum of Association Company to include healthcare activities as an object to be pursued by the Company.
The acquisition of the HHTPL will add a new vertical of Diagnostics Business to the company. Post completion of the acquisition, the HHTPL will become the wholly owned subsidiary of the company
PVP Ventures is currently engaged in different business activities. The company is engaged in the business of planning and evaluating all steps, processes and techniques for setting up, managing, operating, and transferring various types of infrastructure projects.
