Natco shareholders approve amalgamation of subsidiary with co

Drug firm Natco Pharma today said it has received shareholders' approval for amalgamation of its subsidiary Natco Organics into the company.

"As per consolidated results of postal ballot and e-voting, the resolution for the scheme of amalgamation of Natco Organics Ltd ( a WOS company ) into the company had been passed by overwhelming majority," Natco Pharma said in a filing to the BSE.

The resolution was passed with a majority of 99.94 of votes polled in favour of the resolution, while 0.02 per cent votes dissented with it, the company added.

Invalid postal ballot forms comprised 0.04 per cent of the total shares polled, Natco said.
 

Shares of Natco Pharma today closed at Rs 526.65 per scrip on BSE, down 3.34 per cent from its previous close.