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Drug Firm Strides Arcolab Changes Its Name To Strides Shasun Ltd

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The Drug firm Strides Arcolab Ltd has changed its name to Strides Shasun Ltd.

The company said that the name change to Strides Shasun Ltd is now effective post issue of fresh certificate of Incorporation, issued by the Registrar of Companies, Mumbai. 

The company also said that the members of the company approved the name change of the company through postal ballot. 

The company had earlier informed the bourses that all the necessary statutory/ regulatory approvals in relation to the scheme of amalgamation of Shasun Pharmaceuticals with Strides Arcolab have been obtained.

In September 2014, the Board of Directors of both the companies had approved a scheme of amalgamation between the two companies.

As per the statement then released Shasun was to amalgamate with Strides in an all-stock transaction. Shashun shareholders were to receive 5 equity shares of Strides for every 16 shares held by them in Shasun. 

Shares of Strides Arcolab were trading at Rs 1,363.05 per scrip on BSE, up 1.30 per cent from it's previous close. 
 

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