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Indo Gulf's merger with Aditya Birla Nuvo becomes effective

Written by: Staff

Mumbai, Apr 03 (UNI) Aditya Birla Nuvo Ltd has announced that the scheme of amalgamation, contemplating the merger of Indo Gulf Fertilisers Ltd (IGFL) with the Company, has been sanctioned by the High Court of Judicature at Allahabad, Lucknow Bench.

Earlier, in January this year, it was sanctioned by the High Court of Gujarat at Ahmedabad.

Consequently, necessary filings were completed with the respective ROC offices, and the committee of the board of directors (BoD) of the company and the BoD of IGFL in their respective meetings held on April 03, this year have declared the scheme of amalgamation effective on April 03.

The scheme will become effective with effect from September 01, last year, which is the 'appointed date'.

The board committee of the company has also fixed April 19, as 'record date' as provided in the scheme of amalgamation.

Accordingly, the shareholders of IGFL on the 'record date' shall be entitled to receive one equity share of Rs 10 each in the company credited as fully paid-up for every three fully paid-up equity shares of Rs 10 each held in IGFL. The paid-up equity share capital of the company will stand increased from Rs 598.90 million to Rs 749.20 million, on issue of equity shares to IGFL Shareholders.


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