Integra Engineering India has received an approval for the proposal for amalgamation of Integra India Group Company with the Company with effect from the appointed date January 01, 2011. The company has received an approval at its board meeting held on July 25, 2011. The proposed amalgamation also envisages reduction of the face value of equity shares of Integra Engineering India to be reduced from Rs 10 to Rs 1 per share. The number of issued and subscribed equity shares of Integra Engineering India, after reduction of capital, will remain the same at 1,93,95,196 equity shares but of a face value of Re 1 per share.
Further, the SWAP ratio for the proposed merger has been recommended, pursuant to valuation done by SSPA & Co., Chartered Accountants, Mumbai, in the ratio of twenty seven equity shares of Integra Engineering India to be issued for every two equity shares held in Integra India Group Company.
Integra Engineering India is presently manufacturing, in technical collaboration with RVG, Germany new generation Automatic Cone Winding Machine with high degree of automation capable of providing better package size and quality, increased production and reduced winding cost; DrawFrames Model 720M and Speed Frames as per the technical specifications of Zinser Textilmashinen GmbH, Germany at its plants located at Halol and Vadodara.