The National Company Law Tribunal (NCLT), New Delhi, has approved the Scheme of Arrangement for the amalgamation of Shree Jee Laboratory, JPR Labs, and Jaspack Industries with Mankind Pharma, according to the company’s filing on Thursday.
“In continuation of our earlier intimation dated April 10, 2024, we hereby inform you that the Hon’ble National Company Law Tribunal, New Delhi Bench (‘NCLT’), has approved the Scheme of Arrangement for the amalgamation of Shree Jee Laboratory Private Limited (“Transferor Company 1”), JPR Labs Private Limited (“Transferor Company 2”), and Jaspack Industries Private Limited (“Transferor Company 3”) with Mankind Pharma Limited (“Transferee Company”/“the Company”), along with their respective shareholders and creditors (“Scheme”/“Scheme of Arrangement”), under Sections 230 and 232 of the Companies Act, 2013, read with the rules framed thereunder. The appointed date for the approved Scheme of Arrangement is April 1, 2024,” the company stated.
“The scheme shall become effective upon the filing of the certified copy of the order passed by the Hon’ble NCLT by all the companies with the Registrar of Companies. Once the certified copy of the order is filed, the transferor companies shall stand dissolved without winding up,” the company added.
Mankind Pharma specializes in the development and manufacturing of pharmaceutical formulations across a range of acute and chronic therapeutic areas, and it boasts a portfolio of several well-known consumer healthcare brands.
The company has approximately 36 brands, including Manforce, Prega News, Unwanted 72, Moxikind, and Nurokind, with multiple products ranking among the Top 10 in their respective markets.
Its shares debuted on the Indian stock exchanges on May 9, 2023, listing at ₹1,422—a 31.7% premium over the issue price of ₹1,080 per share. The stock maintained its upward momentum in the following months, reaching an all-time high of ₹3,054 apiece in late December. However, a sharp sell-off in the broader market has led to a sustained decline in its price.
Over the past two months, it has fallen by 20%, and from its peak, it is now trading 25% lower at ₹2,294 apiece.
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