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Dishman Carbogen Amcis issues shares as part of amalgamation


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Dishman Carbogen Amcis issues shares as part of amalgamation

The board of Dishman Carbogen Amcis Ltd., issued and allotted 161,394,272 equity shares of 2 Indian rupees each, as fully paid-up equity shares, to the shareholders of Dishman Pharmaceuticals and Chemicals Ltd. as part of the amalgamation of Dishman Pharmaceuticals, Carbogen Amcis (lndia) Ltd. and Dishman Care Ltd.

The shares were allotted in the ratio of 1 share of Dishman Carbogen Amcis for every 1 share held in Dishman Pharmaceuticals to those shareholders of record as of May 31.

The company is executing a corporate action with the National Securities Depository Ltd. and the Central Depository Services (India) Ltd. to credit the equity shares in the shareholders' account.

The new entity will then list said shares with the Bombay Stock Exchange Ltd. and National Stock Exchange of lndia Ltd.

The amalgamation was approved by the High Court of Gujarat, India, on Dec. 16, 2016.

As of June 6, US$1 was equivalent to 64.44 Indian rupees.