Themis Medicare Limited has informed the Exchange about Withdrawal of Scheme of Amalgamation.
THEMISMED · price
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Themis Medicare Limited and Gujarat Themis Biosyn Limited have mutually withdrawn the proposed scheme of amalgamation that was approved by their respective boards on November 18, 2024. Gujarat Themis Biosyn has decided to independently focus on its core fermentation-based pharmaceutical intermediates and APIs business, citing better value creation for stakeholders through its standalone strengths. Themis Medicare has also resolved to withdraw the scheme and will continue focusing on its core domestic formulations business for long-term sustainable growth. The withdrawal was approved at board meetings held on June 13, 2025, under Clause 21 of the Scheme.
For Themis Medicare shareholders, the failed merger means the company will continue as a standalone entity focused on domestic formulations, without the operational synergies or scale benefits a combined entity could have offered. The withdrawal is unlikely to be materially negative as the deal had not yet progressed to NCLT or received final approvals, and the company retains its independent growth path.