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Rishiroop Rubber (International) to merge Puneet Resins with itself

06 Sep 2014 Evaluate

Rishiroop Rubber (International) has received an approval for merger of Puneet Resins with itself. The board of directors at their meeting held on September 02, 2014 has approved for the same. The board also took on record Valuation report submitted by SSPA & Company, Chartered Accountants.

As per the scheme of merger, shareholder holding 5 equity shares of Rs 10 each of Rishiroop Rubber (International) will be allotted 3 Optionally Convertible Preference Shares of Rs 10 issued at premium of Rs 34 each of Puneet Resins.

Rishiroop Rubber (International) established in 1971 is an Indian enterprise having core competencies in products required by Rubber Industries and Coatings. The company is the pioneer of Chlorinated Rubber (Brand Name Chlorub) in India.

Peers
Company Name CMP
Apcotex Inds 409.10
Pix Transmission 1543.75
GRP 2000.00
Harrisons Malayalam 211.75
Tinna Rubber & Infra 710.10
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