@AmitContrarian Search for credit rating of both entities, you will see the fact that both these enties are just holding entities without any other business and it also has debt.
https://www.indiaratings.co.in/pressrelease/67742
In this attached doc, you can find they issued some NCDs in 2021 to acquire the shares of Medplus
https://nsearchives.nseindia.com/corporate/spect_sandeshc_21122023134533_disc1.pdf
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