By: IPP Bureau
Last updated : August 27, 2026 10:21 am
The company currently holds 96% of Bharat Serums and Vaccines directly, while the remaining 4% is held through its wholly owned subsidiary, Appian Properties
Mankind Pharma has approved a plan to consolidate the business of its material wholly owned subsidiary, Bharat Serums and Vaccines Limited (BSVL), directly into the parent company through a voluntary liquidation process.
At a Board meeting held on August 26, 2026, Mankind Pharma took note of BSVL’s decision to initiate the voluntary liquidation process and gave its consent for the expeditious consolidation of BSVL’s business, subject to regulatory approvals.
Mankind Pharma currently holds 96% of BSVL directly, while the remaining 4% is held through its wholly owned subsidiary, Appian Properties Private Limited.
Under the proposed restructuring, BSVL’s business will be transferred to Mankind Pharma on a going-concern basisafter obtaining the necessary licences, permits, authorisations, consents and no-objection certificates in Mankind Pharma’s name.
Appian will receive cash corresponding to its 4% stake in BSVL, based on the fair value determined by an independent valuer. Once the process is completed, BSVL will be dissolved and the shares held by Mankind Pharma and Appian will be cancelled.
The transaction will not result in any change to Mankind Pharma’s shareholding pattern.
The voluntary liquidation process will be undertaken by a liquidator appointed by BSVL in accordance with the Insolvency and Bankruptcy Code, 2016 and the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.
Mankind Pharma said the consolidation is intended to improve operational efficiency by bringing resources currently spread across two legal entities under a single structure. It is also expected to strengthen the organisation by combining human capital, capabilities and therapy-area expertise.
The restructuring is further expected to deliver cost, cash-management and governance efficiencies, including lower compliance requirements and rationalised expenses.
The company clarified that the proposed transaction will not result in any benefit accruing to its promoter, promoter group or group companies.