Shareholders approve amalgamation of two Privi group companies
PRIVISCL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shareholders approved the amalgamation of Privi Fine Sciences Private Limited and Privi Biotechnologies Private Limited with Privi Speciality Chemicals Limited. Of 29,700,879 valid votes cast, 26,647,091 were in favour and 3,053,788 against, with no invalid votes. Public shareholders also approved it, with 60.95 percent in favour. NCLT sanction and other approvals are still required.
The merger has shareholder backing and can advance to NCLT sanction, but completion remains uncertain.