In a significant move to boost its international footprint and social responsibility efforts, Mankind Pharma Limited has announced several major decisions following its Board of Directors meeting held on April 14, 2025. The meeting addressed long-term corporate planning including the incorporation of new subsidiaries and integration of acquired assets.

Three Key Initiatives Announced

1. Creation of a Structural Integration Committee
   Mankind Pharma has set up a Structural Integration Committee to evaluate options for merging Bharat Serums and Vaccines Limited (BSV) into its operational framework. BSV is a material wholly owned subsidiary of the company, and its alignment with Mankind’s broader ecosystem is a strategic priority. The integration plan will involve extensive consultation with legal, financial, tax, and strategic advisors before final board approval.

   This committee is tasked with recommending integration routes that are operationally efficient, financially prudent, and compliant with all regulatory frameworks. Mankind will seek necessary approvals from shareholders, creditors, and regulatory bodies once the plan is finalized.

2. Incorporation of a Foreign Wholly Owned Subsidiary in Russia
   The board approved the formation of a wholly owned subsidiary (WOS) in Russia, aimed at distributing pharmaceutical products, particularly those developed by Bharat Serums and Vaccines Limited. This move is aligned with Mankind Pharma’s broader vision of expanding its international operations, and capitalizing on growth opportunities in Eastern Europe and Eurasia.

   • Proposed Investment: USD 5 million in multiple tranches

   • Purpose: Initial operational setup, procurement, staffing, and licensing

   • Compliance: The incorporation will follow the Foreign Exchange Management Act (FEMA), and other applicable Reserve Bank of India and Russian regulatory provisions

   • Ownership: 100% ownership by Mankind Pharma, either directly or through a local intermediate holding

3. Launch of a CSR-Focused Indian Subsidiary
   The board has also given a green signal to incorporate a Section 8 company under the Companies Act, 2013, specifically designed to carry out the corporate social responsibility (CSR) initiatives of Mankind Pharma. The subsidiary will streamline the Group’s philanthropic projects, health outreach, education funding, and rural development programs across India.

   • Initial Capital Investment: ₹5 lakhs

   • Regulatory Oversight: Approvals will be obtained from Registrar of Companies (RoC), Delhi & Haryana, and the Ministry of Corporate Affairs

   • Ownership: Fully owned by Mankind Pharma

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