Indrayani Biotech’s wholly owned subsidiary -- IBL Healthcare has disinvested 52,970 Equity shares constituting 51% of the total Share capital of India Home Health Care (IHHC). IHHC's business models and future focus were not aligning with IBL Healthcare’s focus and along with this the operational synergy did not materialize as anticipated, which lead the Board to implement the plan of disinvestment.
Thus, IHHC is no longer the Subsidiary of IBL Healthcare. The investment yielded a neutral outcome, resulting in neither profit nor gain. The Board of IBL Healthcare extends its best wishes for the success of the IHHC team and the promoters of the company in all their future endeavors.
Indrayani Biotech is a company belonging to food sector. They are a part-finance its project to produce cut flowers, strawberries, tissue culture plantlets and hybrid vegetable seeds. The company also markets and distributes hybrid vegetable seeds manufactured by Hoechst India. It plans to produce these seeds for Hoechst in due course of time.
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