Emcure Pharmaceuticals’ Board of Directors has approved a draft Composite Scheme of Amalgamation involving its wholly owned subsidiaries, Zuventus Healthcare and Emcutix Biopharmaceuticals, with the parent company.

Under the proposed scheme, both subsidiaries will be amalgamated with Emcure Pharmaceuticals in accordance with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

The scheme is subject to the requisite statutory and regulatory approvals, including approval from the National Company Law Tribunal (NCLT), Mumbai Bench.

As the proposed amalgamation involves wholly owned subsidiaries merging with their holding company, it is exempt from the requirements under Regulation 23(5)(b) of the SEBI Listing Regulations.