Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) agreed to acquire Ind-Swift Limited (BSE:524652) on September 25, 2023. The above-mentioned Scheme shall be subject to the approval of the BSE Limited, National Stock Exchange of India Limited, Securities Exchange Board of India, National Company Law Tribunal, Shareholders and Creditors of both the Companies and other Specific Sectoral Regulator. The Board of Directors of Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) and Ind-Swift Limited (BSE:524652) in their meeting held on September 25, 2023, has considered and approved the Scheme of Arrangement for Amalgamation of Ind Swift Limited with Ind Swift Laboratories Limited.

The proceeds of the said sale shall be used primarily to repay its debt and to discharge other financial obligations.