Par Drugs and Chemicals to issue bonus shares in the ratio of 1:1
Par Drugs and Chemicals got the approval from its Board to issue bonus shares after the approval of shareholders.
Company : Par Drugs and Chemicals Limited
Board of Directors at Par Drugs and Chemicals considered issuing bonus shares in the ratio of 1:1. This means 1 bonus equity share of value Rs.10 each for every 1 equity share of value Rs.10 each held as on the record date. The record date for determining the eligible shareholders has been fixed as 28thApril, 2021.
The Board at Par Drugs and Chemicals also approved the increase in authorized share capital of the company from Rs. 6,15,23,180 (divided into 61,52,318 shares of value Rs.10 each) to Rs. 12,30,46,360 (divided into 1,23,04,636 shares of value Rs.10 each).
Par Drugs and Chemicals are presently engaged in the manufacturing of APIs for the domestic market as well as for exports to international markets. APIs, also known as "bulk drugs" or "bulk actives" are the principal ingredient used in making finished dosages in the form of capsules, tablets, liquid, or other forms of dosage, with the addition of other APIs or inactive ingredients. They currently produce the entire range of antacid molecules available in the market. Par Drugs and Chemicals currently own and operate two manufacturing facilities at Bhavnagar, Gujarat and Ankleshwar, Gujarat.