Consequent upon the receipt of necessary regulatory clearances by Bharat Serums and Vaccines Limited, BSV Pharma Pvt. Ltd. has remitted a sum of Rs. 208.39 crore to TTK Healthcare Limited towards the consideration for the purchase of the said 20,83,90,260 equity shares of Rs. 10 each held by us in BSV Pharma Pvt. Ltd., and the said shares are being transferred to them.

In terms of the Business Transfer Agreement dated 21st March, 2022, TTK Healthcare Limited received from BSV Pharma Pvt. Ltd. a sum of Rs. 593.11 crore on 9th May, 2022 (being 74% of the consideration after the preliminary adjustments for working capital) in cash and the balance Rs. 208.39 crores being the 26% of consideration was received in the form of equity shares (20,83,90,260 Equity Shares of Rs. 10 each) allotted in our favour in the said BSV Pharma Pvt. Ltd., on 9th May, 2022.

The Agreement also provided for the purchase of the aforesaid 26% equity shares held by TTK Healthcare Limited in BSV Pharma Pvt. Ltd., by Bharat Serums and Vaccines Limited or its nominees, after they obtain necessary regulatory clearances.