Manaksia has received an approval whereby the company’s aluminium, steel, packaging and coated metal and mosquito coil undertakings will be demerged on a going concern basis with effect from April 1, 2013 into its wholly owned subsidiary (WOS) companies. The board at its meeting held on December 27, 2012 has approved for the same.
Besides, the transferee companies will issue one equity share of face value of Re 1 each to the shareholders of Manaksia for every share of the face value of Rs 2 each held by them on the record date, to be decided and fixed at a later date.
Further, the shares of transferee companies are proposed to be listed on all the stock exchanges at which the shares of the company are presently listed.
| Company Name | CMP |
|---|---|
| Redington | 220.95 |
| Adani Enterprises | 2088.20 |
| Amrapali Industries | 17.32 |
| Rashi Peripheral | 404.30 |
| PDS | 295.25 |
| View more.. | |
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