Sequent Scientific Limited has received observation letters from BSE Limited and the National Stock Exchange of India Limited (NSE) regarding the Composite Scheme of amalgamation.
BSE provided an observation letter with ‘no adverse observations’ and NSE provided an observation letter with ‘no objection’, both dated 26 May 2025.
The scheme involves the amalgamation of Sequent Scientific Limited with Symed Labs Limited, Vandana Life Sciences Private Limited, Appcure Labs Private Limited, Vindhya Pharma (India) Private Limited, S.V. Labs Private Limited, Vindhya Organics Private Limited, Viyash Life Sciences Private Limited, Geninn Life Sciences Private Limited and Sequent Research Limited and their respective shareholders and creditors.
SEBI has given comments on the draft scheme, including requirements for disclosing details of ongoing adjudication and recovery proceedings, ensuring compliance with SEBI circulars, and transferring liabilities of transferor companies to the transferee company.
The company must disclose the shareholding pattern of Promoter/Promoter Group and Public shareholders before and after implementation of the scheme.
The company needs to provide rationale of the scheme and swap ratio, synergies of business of the entities involved, impact of the scheme on the shareholders and cost benefit analysis of the scheme.
The Scheme remains subject to applicable regulatory and other approvals including the approval of the National Company Law Tribunal, Hyderabad.