Wockhardt Ltd, a pharma major, has approved the demerger of nutrition business of Vinton Healthcare, a wholly-owned subsidiary of the company into Wockhardt. This will be effective from 1 January, 2011.
The decision was taken today by the company in its board meeting to consider and approve the scheme of amalagamation..
"As Vinton Healthcare Limited is a wholly-owned subsidiary of the company, no shares would be issued by the company pursuant to the Scheme of Demerger," said Wockhardt in a statement today.
On the Bombay Stock Exchange, the company's shares were trading at Rs 334, down 0.34 per cent at IST 1258.
