APIS India Limited (BSE:506166) agreed to acquire Apis Natural Products and Modern Herbals on January 24, 2023. The Comprehensive Scheme of Amalgamation has been envisaged to consolidate the operations of the group. NCLT has pronounced the order on January 16, 2023 granting sanction to the Scheme.

Both the Transferor Companies i.e. APIS Natural and Modern Herbals hold shares in APIS India and constitute the Promoter Group of APIS India Limited. APIS Natural holds 59,220 equity shares, constituting 1.07% of the paid-up equity share capital and Modern Herbals holds 1,43,820 equity shares, constituting 2.61% of paid-up equity share capital. Pursuant to the proposed amalgamation of APIS Natural and Modern Herbals with APIS India, the consolidated assets and funds would vest in a single entity.

The amalgamation would help the management to achieve greater integration and better financial strength. There would be no change in the promoter shareholding of APIS India. The promoters would continue to hold the same percentage of shares in APIS India, pre and post amalgamation of APIS Natural and Modern Herbals with APIS India.

As of January 16, 2023, the transaction has been approved by the NCLT of India.