The promoters of Vadilal Dairy International (VDIL) have decided to infuse Rs 2.50 crore in order to revive the sick company. The Board for Industrial and Financial Reconstruction (BIFR) had declared VDIL as a sick company and sanctioned its revival plan in 2007.
The promoters were required to infuse Rs 2.50 crore via capital contribution as per the rehabilitation scheme. Promoters were given an exemption on converting the capital amount into equity shares and ceiling on their holdings in the company.
In an extra ordinary general meeting held on March 30, 2013 the members approved the issue of 2,500,000 equity shares of Rs 10 each aggregating to Rs 2.50 crore. After the allotment of these shares pursuant to BIFR orders, the promoters’ holding in the company will be increased to 92.71% from the current 66.45%.
VDIL’s main object includes production of Ice-Creams, Milk, Butter, Cheese, Ghee, malted milk food, Infant milk food, skimmed milk powder and casein.
Company Name | CMP |
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Nestle | 2473.00 |
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Varun Beverages | 1504.00 |
Marico | 594.40 |
Hatsun Agro Product | 1027.35 |
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