Achyut Healthcare proposes amalgamation with Zenith Healthcare
Achyut Healthcare Limited announced that its Board of Directors has approved a Scheme of Amalgamation with Zenith Healthcare Limited. Achyut Healthcare will be amalgamated into Zenith Healthcare, leading to the dissolution of Achyut Healthcare without winding up. Zenith Healthcare will issue equity shares to Achyut Healthcare's shareholders as consideration. The scheme is subject to approvals from statutory authorities, including the National Company Law Tribunal (NCLT), and shareholders/creditors. The transaction is considered a related party transaction as promoters are from the same group, but it will not attract Section 188 of the Companies Act, 2013. The share exchange ratio has been determined by registered valuers.
Key Highlights
- Board approves Scheme of Amalgamation of Achyut Healthcare with Zenith Healthcare.
- Achyut Healthcare to be dissolved without winding up post-amalgamation.
- Scheme subject to NCLT, shareholder, and creditor approvals.
- Transaction is a related party deal but exempt from Section 188 of Companies Act.
- Share exchange ratio determined by registered valuers.
Price Impact
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