Shares of Claris Lifesciences will be delisted from the BSE from March 22, the pharma firm announced on Monday and added that trading in the shares will be stopped from March 15.

Shares of the company are not traded on the NSE. “Pursuant to the final delisting approval, the ‘permitted to trade’ status given to the equity shares by the Metropolitan Stock Exchange of India shall also stand withdrawn on and from the date of discontinuation of trading,” Claris Lifesciences said in a statement.

The company had applied for delisting of the equity shares from the exchange on February 26.

The promoter/promoter group of the company had made a voluntary delisting offer representing 49.87 per cent of the paid-up share capital of the company held by public shareholders.

The residual public shareholders who are currently holding them will be able to offer them to the acquirers at ₹400 a share for a period of one year from March 22 this year to March 21, 2019.

Last year, the company had completed the sale of its injectable business to Baxter International Inc for about ₹4,200 crore.

Also, the Ahmedabad-based injectables player had completed the sale of its stake in Otsuka Pharmaceutical — the joint venture with Otsuka Pharmaceutical Factory and Mitsui & Co — to Otsuka.

The company had reported a loss of ₹320.16 crore on revenues of ₹0.14 crore for the quarter ended December 2017. However, it had reported a PAT of 1,693.97 crore on revenues of ₹2.73 crore.

For FY2017-18, the pharma major had reported a profit of ₹11.56 crore and revenues of ₹21.12 crore.

The stock of Claris Lifesciences closed at ₹395.35, down 0.32 per cent, on the BSE.

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