Orchid Pharma Limited has informed the Exchange regarding 'Update on Scheme of arrangement'.

Nclt Scheme FiledStrategic Transactions View source PDF Explain this filing

ORCHPHARMA · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-4.1%Reaction day

₹540.00

prior close

₹527.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-2.8%-1.3% vs market

Pharmaceuticals peers, median of 156sector-1.8%-2.3% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 2.3 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.0

10m

+1.0

15m

+0.7

30m

+0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-4.1-2.8-1.3-1.8-2.3

Next day

-2.0-2.0-0.1-0.9-1.1

-5.6-6.5+0.9-4.7-0.8

-5.1-3.8-1.3-3.1-2.0

-1.3-1.5+0.2-1.9+0.7

-6.7-4.3-2.4-4.3-2.4

-5.2-2.8-2.5-3.5-1.7

15d

+5.1+8.2-3.1+7.0-1.9

+0.5+10.1-9.7+6.7-6.2

+36.1+12.4+23.7+9.3+26.8

+79.7+23.5+56.2+13.5+66.1

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 156Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Orchid Pharma Limited informed the exchanges that the NCLT (National Company Law Tribunal) has reserved its order on the Scheme of Amalgamation of Dhanuka Laboratories Limited into Orchid Pharma Limited. The order was reserved for formal pronouncement on March 18, 2026, meaning the tribunal has finished hearing the matter and the verdict is awaited. The company will share the NCLT order copy with the exchanges and on its website once received. This is a continuation of earlier intimations regarding the pending merger petition.

Likely market impact

The NCLT reserving its order is a key milestone — a favourable order will complete the legal merger of Dhanuka Laboratories into Orchid Pharma, potentially expanding the combined business. Shareholders should watch for the formal order, which could act as a short-term catalyst for the stock depending on the outcome.