Themis Medicare Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 13, 2025.
THEMISMED · price
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Themis Medicare Limited's board, at a meeting on June 13, 2025, decided to withdraw the proposed Scheme of Amalgamation with Gujarat Themis Biosyn Limited that was originally approved on November 18, 2024. Gujarat Themis Biosyn, the transferor company, concluded that it could create better shareholder value by independently focusing on its core fermentation-based pharmaceutical intermediates and APIs business, including potential capacity expansion and collaborations. In line with this decision, Themis Medicare's board also withdrew from the scheme and stated it will continue focusing on its core domestic formulations business for long-term sustainable growth.
The cancellation removes any near-term merger synergies or consolidation benefits that investors may have factored in. Both companies will now operate independently and pursue their own growth strategies, which means existing shareholders retain their current shareholding structure with no share swap or dilution from the failed amalgamation.