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( 10/08/2018 21:33)
SORIL Infra Resource - Outcome of Board Meeting

The Board of the Company has at its meeting held today considered various options to reorganize its ongoing business, including foray into Pharma business as the Indian Pharma market is poised for an accelerated growth because of improved medical infrastructure and health insurance penetration. The Board also considered the proposal received from its holding company Indiabulls Integrated Services Ltd (IBULISL) for re-organization of its ongoing business and constituted a committee to evaluate the proposals of:

(1) venture into pharma business by way of either acquisition / amalgamation of any entity having ongoing pharma business or otherwise; and

(2) acquisition / amalgamation of certain non-financial business of IBULISL into the Company and providing the shareholders of IBULISL the direct ownership/shareholding in the Company.

For details, refer attachment.

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