Agrochemicals firm Excel Crop Care today said its board has approved a proposal to merge the company with Sumitomo Chemical India.
The scheme of amalgamation will be subject to approval by the National Company Law Tribunal and other regulators, the company said in a regulatory filing.
The board approved the scheme in a meeting held today.
Pursuant to the scheme, the existing equity shareholding of Sumitomo Chemical India (transferee company) in Excel Crop Care (transferor company) will get cancelled.
The other equity shareholders of the transferor company will receive 51 equity shares of the transferee company for every two equity shares held.
The scheme shall be effective from April 1, 2018 or such other date as may be approved by NCLT and/or the regulatory authorities, the filing said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app