Alembic goes ex-scheme of arrangement
Alembic has fixed April 14, 2011 as record date to ascertain the eligibility of the shareholders of Alembic Limited to receive the equity shares of Alembic Pharmaceuticals Limited as per the scheme of arrangement sanctioned by the Hon'ble High Court of Gujarat.
April 11, 2011 / 16:25 IST
Alembic has fixed April 14, 2011 as record date to ascertain the eligibility of the shareholders of Alembic Limited to receive the equity shares of Alembic Pharmaceuticals Limited as per the scheme of arrangement sanctioned by the Hon'ble High Court of Gujarat.
The equity shareholders of Alembic Limited will be allotted one equity share of face value of Rs 2/- by Alembic Pharmaceuticals Limited against every 1 (one) equity share held by him in the company.Alembic is engaged in manufacturing and marketing of fermentation, and chemistry based Active Pharmaceuticals Ingredients (API). It is also into power generation, leasing out real estate and holding certain strategic & long term investments. It is into research & development activities as well.Main objects of Alembic Pharmaceuticals is to manufacture, sale, purchase, deal in various pharmaceuticals, products, bulk drugs, medicines, chemicals, raw materials, intermediates for various pharmaceutical products and to engage in business of healthcares, life-sciences, research and development, contract manufacturing.Post the demerger, Alembic Pharma would focus on the pharmaceutical undertaking consisting of the business of manufacturing, marketing, and trading of formulations & APIs and research & development activities. Alembic would focus on its existing business and activities other than the pharmaceutical undertaking.At 15:10 hours, the share was trading at Rs 25, down 64.49% post the scheme of arrangement.
It was trading with volumes of 449,822 shares, compared to its 5-day average of 116,461 shares, an increase of 286.24%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
