Pharma Board Approves Tonira Fusion System

The Board of Directors meeting of 17 September 2011 Tonira Pharma, has approved the merger of IPCA Laboratories Pharma Tonira from 1 April 2011 (effective date), through the integration of the system.

The system includes an exchange ratio of six shares of Rs 2 each fully paid by the IPCA Laboratories for 100 shares of Rs 10 each fully paid by Tonira Pharma. The exchange ratio is based on the joint assessment report Natvarlal Vepari & Co., Chartered Accountants and GM Kapadia & Co., Chartered Accountants.


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