Shilpa Medicare has received an approval for amalgamation of Navya Biologicals (NBPL) with itself. The merger is however subject to the approval/observation letters of requisite statutory bodies/ intermediaries including Stock Exchanges, shareholders and High Court of Karnataka/ National Company Law Tribunal and will be completed in 7 to 8 months.
The board of directors at their meeting held on June 27, 2016 has considered and approved for the same based on the recommendations of Audit Committee. The company’s board has approved the acquisition of NBPL in exchange for 14 lakh shares of company to be issued to the shareholders of NBPL.
NBPL is a company incorporated under the Companies Act, engaged in research and development activities in the field of biologicals. NBPL has specifically been in the development of bio-similars and bioprocess technology platforms.
Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
Company Name | CMP |
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Sun Pharma Inds. | 1504.25 |
Dr. Reddys Lab | 6263.70 |
Cipla | 1406.25 |
Zydus Lifesciences | 948.20 |
Lupin | 1615.85 |
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