Demerger
SMS Lifesciences India Limited (“the Company”) has demerged from SMS Pharmaceuticals Limited (demerged Company), pursuant to the Scheme of Arrangement as approved by the Hon’ble National Company Law Tribunal, Hyderabad Bench, vide Order No. C.P (CAA) No.7/230/232/HDB/2017 dated May 15, 2017.
Key Points :
➜➜ The semi-regulated units of Demerged Company transferred to the Company with effect from the appointed date i.e., April 01, 2016.
➜➜ 1 (one) Equity Share of ₹10/- each (fully paid-up) of the Company has been issued and allotted for every 28 (twenty eight) Equity Shares of Re.1/- each (fully paid-up) held by the shareholders in Demerged Company.
Timelines :
| Date | Title |
| May 15, 2017 | NCLT Order for Demerger |
| June 23, 2017 | Announcement of Record Date |
| August 1, 2017 | SEBI relaxation of Rule 19(2)(b) of the Securities Contract (Regulations) Rules, 1957 |
| August 10, 2017 | Information Memorandum |
| August 17, 2017 | Trading Approval - NSE |
| Trading Approval - BSE |