Electrosteel Castings has informed that the Banking and Authorisation Committee of the Board of Directors of the Company, at its meeting held on January 20, 2022, has considered and approved the allotment of 161650538 equity shares of Re 1 each of the Company fully paid-up amounting to Rs 161650538 to the eligible shareholders of Srikalahasthi Pipes (SPL) [other than for shares already held by the Company in SPL], as on January 14, 2022, being the record date, as per the share exchange ratio, 59 (fifty nine) fully paid up equity shares of Re 1 each of the Company for every 10 (ten) fully paid up equity shares of Rs 10 each of SPL, as envisaged in the Scheme of Amalgamation. Post allotment, the issued and paid up share capital of the Company stands increased to Rs 59,46,05,247 comprising of 59,46,05,247 equity shares of Re 1 each fully paid-up from Rs 43,29,54,709 comprising of 43,29,54,709 equity shares of Re 1 each fully paid up.
The above information is a part of company’s filings submitted to BSE.
