Aarti Industries, a leading manufacturer and exporter of chemicals and pharmaceuticals, has received approval from shareholders of Anushakti Holdings (AHL) and Anushakti Chemical and Drugs (ACDL) for the scheme of amalgamation.

Shareholders of AHL & ACDL have approved the said Scheme unanimously by requisite majority at the court convened Meetings held on Mar. 9, 2015. All the Shareholders of Gogri & Sons Investments Private (GSIPL) and Alchemie Leasing and Financing Private (ALFPL) had given their consents, approval for the scheme earlier.

'The merger is aimed at simplification and rationalisation of the promoters' shareholding and would also result in increase in public float of shares. Further, merger will also result in elimination of associate companies and would make the shareholding structure more transparent and investor friendly,' said Rajendra Gogri, chairman and managing director, Aarti Industries.

Shares of the company gained Rs 2.55, or 0.77%, to trade at Rs 335. The total volume of shares traded was 16,103 at the BSE (12.53 p.m., Thursday).