JB Chemicals & Pharmaceuticals Limited has informed the Exchange regarding Notice of Court Convened General Meeting to be held on April 28, 2026
JBCHEPHARM · price
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J.B. Chemicals & Pharmaceuticals Limited (JB Pharma) has been directed by the NCLT Ahmedabad Bench (order dated March 23, 2026) to hold a court-convened meeting of equity shareholders on April 28, 2026 at 2:00 p.m. via video conferencing. The sole agenda is to consider and approve the proposed Scheme of Amalgamation of JB Pharma (Transferor Company) with Torrent Pharmaceuticals Limited (Transferee Company) and their respective shareholders under Sections 230-232 of the Companies Act, 2013. The joint share entitlement ratio was determined by Ernst & Young Merchant Banking Services and BDO Valuation Advisory, with fairness opinions from Axis Capital and ICICI Securities. BSE and NSE had already issued observation letters (no objection) on February 17, 2026. Remote e-voting will be open from April 24 to April 27, 2026, with April 21, 2026 as the cut-off date. Voting results are expected to be announced on or before April 30, 2026.
This is a key procedural milestone in the proposed merger of JB Pharma into Torrent Pharmaceuticals. If shareholders approve the scheme on April 28, 2026, it will move forward to final NCLT sanction, after which JB Pharma shareholders will receive Torrent Pharma shares as per the swap ratio. The stock may see volatility around the voting outcome; approval is a positive step toward deal closure, while rejection could derail the merger.