Mahindra Forgings to merge three units with self

New Delhi, June 5 (UNI) Auto componenet manufacturer Mahindra Forgings Ltd (MFL) today said its Board of Directors has given approval for the merger of three units with itself.

The three units to be merged with MFL are Mahindra Stokes Holding Company Ltd, Mahindra Forgings Overseas Ltd and Mahindra Forgings Mauritius Ltd, a statement said.

Shareholders of Mahindra Stokes would receive 20 shares of MFL for 103 shares held, while Mahindra Forging Overseas shareholders would get 20 shares of MFL for 49 shares held, the statement added.

Shareholders of Mahindra Forgings Mauritius Ltd would get 20 shares of MFL for 73 shares held.

After the merger, the holdings of founders Mahindra&Mahindra Ltd in MFL would rise to 60.6 per cent from 47.1 per cent at the end of March 2007.

UNI