Bulk drug maker Hikal today said Hikal Pharmaceuticals has been merged with it following the scheme of arrangement already approved by the Bombay High Court.
Hikal Pharmaceuticals stands dissolved without being wound up, Hikal said in a filing to the Bombay Stock Exchange.
The certified copy of the High Court order sanctioning the scheme has been filed electronically with the registrar of companies, Maharashtra, Mumbai on June 30, it said.
Therefore, the scheme has become effective from June 30, it said.
The High Court had approved the scheme of arrangement between Hikal Pharmaceuticals and Hikal and their respective shareholders vide order dated June 25, it said.
Shares of the company closed at Rs 263.05, down 1.85 per cent from the previous close on the BSE.
