In continuation to intimation letter dated June 22, 2024, wherein it has informed about the incorporation of wholly owned subsidiary company, Panacea Biotec Inc. (‘PB Inc.’) by the Company’s material subsidiary, Panacea Biotec Pharma (‘PBPL’) and an investment of US$ 75,000 (~Rs.6.23 million) made by PBPL in the shares of common stock of PB Inc. In this regard, Panacea Biotec has further informed that on December 27, 2024, PBPL made further investment of US$ 9,25,000 (~Rs.7.92 Crore) in PB Inc. as subscription for 9,25,00,000 shares of common stock of PB Inc. at a price of US$ 0.01 per share. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July, 2023, are given in Annexure A to this letter.
The above information is a part of company’s filings submitted to BSE.
