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Provogue (India) rises on getting nod for corporate restructuring of the company

12 Aug 2011 Evaluate

Provogue (India) is currently trading at Rs. 30.45, up by 0.25 points or 0.83% from its previous closing of Rs. 30.20 on the BSE.

The scrip opened at Rs. 30.75 and has touched a high and low of Rs. 33.00 and Rs. 30.15 respectively. So far 94,672 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 83.40 on 07-Oct-2010 and a 52 week low of Rs. 26.90 on 09-Aug-2011.

Last one week high and low of the scrip stood at Rs. 33.00 and Rs. 26.90 respectively. The current market cap of the company is Rs. 345.36 crore.

The promoters holding in the company stood at 42.25% while Institutions and Non-Institutions held 16.28% and 41.47% respectively. 

Provogue (India) has received an approval for corporate restructuring of the company by way of demerger of investment in real estate development business hereinafter referred to as ‘the Demerged Undertaking’ to a newly incorporated entity and amalgamation of a subsidiary company, Prozone Enterprises into said newly incorporated entity. The company has received an approval for the same at its board meeting held on August 11, 2011.

Further, the company has authorized the directors, severally for taking necessary steps as may be required for any matters relating to the proposed corporate restructuring including review of implications of existing laws, and for engaging and/or appointing of counsels, advisors, valuers, merchant banker, if required or any other person for matters relating to the said restructuring and to fix their remuneration and other terms of appointment, including grant of power of attorney etc as may be required and, to do all other acts, deeds and things which are incidental and ancillary to give effect to the said proposed restructuring.

Provogue (India) is engaged in retailing of apparels and accessories in men and women segment. Provogue fashions and accessories were available across 124 Provogue stores and 104 national chain store locations.

Provogue India Share Price

0.93 0.00 (0.00%)
14-Nov-2019 18:01 View Price Chart
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