GMR Industries fixes Record Date for Scheme of Arrangement

GMR Industries Ltd has announced that pursuant to the Scheme of Arrangement between Bharat Sugar Mills Ltd, GMR Industries Ltd, GMR Ferro Alloys & Industries Ltd, July 20, 2007 has been fixed as the record date for the purpose of determining the eligible shareholders for issue of new shares of GMR Industries Ltd and also for issue of shares of GMR Ferro Alloys & Industries Ltd, after restructuring the share capital, as per the scheme of arrangement.

As per the said Scheme of Arrangement:

- every equity shareholder holding 100 equity shares in GMR Industries Ltd would be issued and allotted 38 equity shares in GMR Ferro Alloys & Industries Ltd and 62 new equity shares in GMR Industries Ltd in cancellation of their existing 100 equity shares in GMR Industries Ltd.

- every preference shareholder holding 100 preference shares in GMR Industries Ltd would be getting 38 preference shares in GMR Ferro Alloys & Industries Ltd and 62 new preference shares in GMR Industries Ltd in cancellation of their existing 100 preference shares in GMR Industries Ltd.

Source : Equity Bulls

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