Indoco Remedies considering amalgamation of La Nova Chem India Pvt Ltd

Indoco Remedies Ltd has announced that the Company is contemplating the amalgamation of its 100% subsidiary i.e. La Nova Chem (India) Pvt Ltd, having an API manufacturing facility at Patalganga, with the Company. Simultaneously, the Company is also contemplating the acquisition of the pharmaceutical business of its associate Company, SPA Pharmaceutical Pvt Ltd through the legal demerger process.

The Company is in the process of carrying out the required valuations, and expects to put up a proposal to the Board of Directors for their consideration.

Source : Equity Bulls

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