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Dishman Pharma board gives nod to amalgamation, bonus issue

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The board has also given nod to amalgamation of the firm with Carbogen Amcis India Ltd

Drug firm Dishman Pharmaceuticals and Chemicals said its board has approved amalgamation of Dishman Care Ltd (DCL), a wholly-owned subsidiary, with the company.

The board has also given nod to amalgamation of the firm with Carbogen Amcis India Ltd (CAIL), its subsidiary, Dishman Pharmaceuticals and Chemicals Ltd (DPCL) said in a BSE filing.

In a separate filing, DPCL said the board has approved bonus issue of equity shares in the ratio of one equity share for every one equity share held in the company, it added.

The board has also given nod to slump sale of effluent treatment plants (ETP) undertaking from the company to CAIL as a going concern and changing the name of CAIL to Dishman Carbogen Amcis, Dishman Pharmaceuticals and Chemicals (DPCL) said.

The total consideration for transfer of the ETP undertaking shall be Rs 15 crore, it added.

Upon amalgamation of DCL with the company, the equity shares of DCL held by DPCL shall be deemed to be cancelled and shall stand extinguished without consideration, DPCL said.

In the amalgamation of the company with CAIL, shareholders of DPCL shall be issued 1 share of CAIL for every one share held in DPCL, the company said.

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