The Board has approved further investment of Rs 10,80,94,228 by Docprime Technologies Pvt Ltd in Visit Health Pvt Ltd, PB.
said in a regulatory filing. In return, VHPL will issue 1,44,511 compulsorily convertible debentures (CCD748 each to Docprime.
“DocPrime is making further investments in Visit Health to acquire a minority stake as part of the strategic investment. Since VHPL is an associate company, it is a related party of the company. The transaction is done on the basis of the valuation report received and it is arm’s length,” PB Fintech said.
Docprime, VHPL and others had entered into a share purchase agreement on September 10, 2021 for this acquisition, which is expected to be completed within six months.
Docprime’s stake stands at 30.46 per cent on a fully diluted basis.
Visit Health is engaged in the business of providing health care and wellness through website and mobile application. It also provides access to medical services like Diagnostics, OPD, Pharmacy through its network partners and also provides health risk assessment to the customers. The turnover of the company in the financial year 2011 was Rs 8.91 crore.
In addition, the Board of Directors of PB Fintech also approved the list of eligible employees of the company and its subsidiaries, for whom 24,32,500 stock options and 1,54,94,500 stock options will vest as on December 1, 2021.
Shares of recently listed PB Fintech closed at Rs 1,214.20 on BSE, down 1.18 per cent from the previous close.