Shareholders approve J.B. Pharma merger with Torrent Pharma

Proposed amalgamation now awaits NCLT approval; shareholders to receive 51 Torrent Pharma shares for every 100 JB Pharma shares held

J.B. Chemicals & Pharmaceuticals Limited has moved a step closer to its proposed merger with Torrent Pharmaceuticals Limited after shareholders of both companies approved the scheme of amalgamation.

The approval marks a significant milestone in the proposed consolidation between the two pharmaceutical companies, which aim to strengthen their combined market presence and operational capabilities.

Under the approved share exchange arrangement, shareholders of JB Pharma, excluding Torrent Pharma, will receive 51 equity shares of Torrent Pharma for every 100 equity shares held in JB Pharma. The share swap ratio was determined by an independent registered valuer.

According to the company, the merger proposal has also secured approval from the requisite majority of public shareholders in line with SEBI regulations.

The proposed amalgamation is now awaiting final approval from the NCLT Ahmedabad Bench. Upon receipt of the tribunal’s approval and completion of regulatory filings, JB Pharma will stand amalgamated with Torrent Pharma.