The company has informed the Bombay Stock Exchange that the meeting of the board of directors of the company will be held on Thursday, December 21, to consider, among other things, the business process re-engineering initiated by KPMG and being implemented by Rabo India Finance, including the decision regarding merger of Kopran Pharmaceuticals Ltd into the company.

The share price of Kopran Ltd closed at Rs 101.70, marginally up from its previous close of Rs 100.80.

Kopran Pharmaceuticals is the promoter of the "Smyle" brand of products. The proposed merger, said industry analysts, is directed towards synergising marketing and financial strengths in the group.

Kopran Ltd is a Rs 59.2 crore company with an equity capital of Rs 14.30 crore. The promoters' holding in Kopran Ltd is about 65 per cent. The financial institutions hold 13.57 per cent. The balance is held by other shareholders.

Kopran is reportedly planning a business restructuring, which may lead to its speciality bulk drug and medical electronics businesses being hived off into stand-alone units. Last year, the company spun off its pen-G bulk drug division into a subsidiary.

The pharma major is also making a major push for entering the US formulation generic market. The company is also looking at strategic alliances with companies in the US to gain an entry into the American markets, for which it has roped in consultants.

The company has been exploring the option of privately placing 20 per cent of its equity to raise about Rs 125-150 crore. It was also planning a fresh issue on a preferential basis to its prospective investors. Funds would be used to strengthen the company's research and development activities. The company has already reached a final stage in development of a new chemical entity.