BPL’s board at its meeting held on May 06, 2013, has approved the transfer of the Healthcare Business of the company as a going concern to BPL Medical Technologies (BPL Medical) for a consideration of equity shares of BPL Medical worth Rs 21.05 crore (subject to the approval of the members, for which the board has authorized conducting a postal ballot).
The consideration shall be settled by way of allotment of fully paid up equity shares of that company on a consideration other than cash basis. The board has further authorized entering into appropriate agreements with the parties concerned.
BPL established its image as a reliable and strong brand in the consumer durables market, a reputation that it still enjoys. In India, BPL has its footprint across the country through a distribution network comprising of over 7000 channel partners.
