Morepen Labs has executed a Business Transfer Agreement (BTA) with Morepen Medtech for the transfer of its medical devices business on a slump sale basis as a going concern. Morepen Labs holds 80 per cent of the paid-up equity share capital in Morepen Medtech.
The agreement follows the approval of the company’s members and the earlier intimation dated January 14, 2025. The transaction has been carried out in compliance with the Securities and Exchange Board of India (SEBI) Listing Regulations and the SEBI circular dated 11 November 2024. The details of the transaction were previously disclosed, and additional disclosures regarding the execution of the BTA have been provided as an annexure.
The BTA outlines the transfer of all rights, title, and interest in the medical devices business based on valuation under Rule 11UAE of the Income Tax Rules, 1962. The final consideration will be subject to adjustments based on closing terms and conditions. Other terms follow standard business transfer covenants.
Morepen Medtech, a subsidiary of Morepen Labs, has an aggregate shareholding of 20 per cent from entities belonging to the promoter group, relatives of the promoter, and members of the promoter group. The company has informed the stock exchanges in compliance with Regulation 30 of the SEBI Listing Regulations.
