Transaction Details
The Board of Directors of Aggarwal Hospital and Research Services Private Limited, a wholly owned subsidiary of Park Medi World Limited, has approved the divestment of its entire 55% shareholding in Devina Derma Private Limited. The transaction value is INR 0.06 crore.
Completion and Impact
The transaction was completed on June 05, 2026 (same as approval date). Upon completion, Devina Derma Private Limited ceases to be a subsidiary of Aggarwal Hospital and Research Services Private Limited and consequently ceases to be a subsidiary of Park Medi World Limited.
Rationale for Divestment
The divestment was undertaken due to failure of the sellers to fulfil certain pre-requisite conditions stipulated under transactional documents. The non-compliance had potential to adversely impact the operational efficiency and financial flexibility of the Group. The Board considers this a prudent and value-accretive decision to streamline corporate structure, eliminate operational uncertainties, and refocus resources on core strategic priorities.
Financial Impact Assessment
- Turnover Contribution: Devina Derma Private Limited's turnover for year ended March 31, 2026 was Rs. 0.45 crores, constituting approximately 0.03% of the consolidated turnover of Park Medi World Limited.
- Net Worth: Devina Derma Private Limited had negative net worth of INR (0.34) crore.
- Consideration Received: INR 0.06 crores
Counterparty Details
The 55% stake is being divested to Zen Zone Healthcare Private Limited, with registered office at Plot No. 581, Sector-37, Pace City-2, Gurgaon, Gurugram-122004, Haryana, India. Zen Zone Healthcare Private Limited does not belong to the promoter/promoter group/group companies of Park Medi World Limited.
Additional Information
The disclosure is being disseminated on the Company's website at https://www.parkhospital.in/.