Dishman Carbogen to allot equity shares of its amalgamated entity on May 30

Pharma major Dishman Carbogen Amcis will be deciding on the members eligible for the allotment of equity shares of the amalgamated entity Dishman Carbogen Amcis to the shareholders of former Dishman Pharmaceuticals and Chemicals in the ratio of 1:1, in a meeting on May 30, 2017.
 
The company’s decided share exchange ratio, fixed under the scheme of arrangements and amalgamation, was approved by the High Court of the state of Gujarat.      
 
The company had recently posted a net profit of Rs 42.8 crore with an increase in the net profits by 47.8 per cent from the previous quarter. However, the net profit declined by 9 per cent on a yearly basis for FY17.
 
The total sales of the company for the fourth quarter stood at Rs. 487 crore with a substantial increase of 36.6 per cent on a quarterly basis, while the sales rose by 9.5 per cent on a yearly basis.
 
The stock was trading at Rs 291.05, down by 0.75 per cent on the BSE at 11:18 hrs IST, on May 29, 2017.