Dolphin Laboratories to merge with Intas Pharmaceuticals

Intas Pharmaceuticals Ltd has announced that the Hon'ble Board for Industrial and Financial Reconstruction (BIFR) vide its Order dated May 17, 2007 has sanctioned the Scheme of Rehabilitation (herein after referred to as SS) interalia merging Dolphin Laboratories Ltd (DLL) with Intas Pharmaceuticals Ltd (IPL).

As per the SS, IPL should allot to the shareholders of erstwhile DLL, preference shares in the ratio of one 5% redeemable preference share of the face value of Rs 10/- each for every 20 Equity shares of the face value of Rs 10/- each of erstwhile DLL.

In compliance of the same, the Company has fixed April 11, 2008 as Record Date for allotment of its Preference Shares.

Source : Equity Bulls

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