Shareholders Vote Yes – Phaarmasia Unlocks Value from Prime Hyderabad Asset

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Phaarmasia Limited’s shareholders have approved the sale of its Hyderabad land and building at IDA Jeedimetla through an e-voting postal ballot. The board has now authorized key executives to execute and register the sale deed, completing a key step in the company’s ongoing asset monetization plan.

Phaarmasia Limited announced that its shareholders have formally approved the sale of the company’s land and building located at Plot Nos. 16A and 16B, Phase III, IDA Jeedimetla, Hyderabad, Telangana. The approval came through a postal ballot and remote e-voting process, with the resolution passing by the requisite majority.

Key Developments

The board of directors acknowledged the scrutinizer’s report outlining the results of the postal ballot and e-voting process for the sale of its Jeedimetla property.
The resolution to sell the land and building at the specified Hyderabad location has been duly passed, demonstrating strong shareholder endorsement of the move.
Following shareholder approval, the company’s board authorized whole-time director Naga Bhaskarrao Yallapragada and CFO Nev Prasada Rao to negotiate, sign, and execute the agreement of sale and related documentation on behalf of Phaarmasia Limited.
In a further resolution, director Maneesh Sapte was empowered to finalize legal formalities by executing and registering the sale deed before the Sub-Registrar, ensuring compliance with necessary statutory requirements.
The authorization allows designated company officials to take all necessary administrative, financial, and legal actions to complete the sale transaction smoothly and in accordance with the shareholders’ mandate.

Strategic Implications

The sale of the Jeedimetla land aligns with Phaarmasia’s broader strategy to rationalize non-core assets and potentially channel proceeds toward strengthening operational efficiency or funding future growth opportunities. Such asset monetization initiatives are consistent with the company’s ongoing efforts to streamline its balance sheet and optimize asset utilization.

With the legal authorizations now in place, Phaarmasia’s move indicates an imminent completion of the land transaction, signaling progress in its strategic and financial restructuring objectives.

Source: BSE Corporate Filing, Phaarmasia Limited Board Meeting Outcome

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