Ipca Labs Board of Directors meeting held on 17 September, 2011,

Ipca Labs Board of Directors meeting held on 17 September, 2011, has authorized the merger of Tonira Pharma Ltd with the Firm with effect from 01 April, 2011 via a Plan of Merger.

Responding to this stocks of the Firm raised more than 2percent, hitting the day’s high of Rs 283.10. Until now, more than 4,297 stocks have exchanged on the Bombay Stock Exchange as against the couple of week avg volume of 16,620 stocks.

The plan envisages an trade ratio of 6 equity stocks of Rs 2 each of Ipca Labs for every 100 equity stocks of Rs 10 each of Tonira Pharma, it included. The planned plan of Merger will be subject to all important authorizations and approvals, as may be required.

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