Balkrishna Industries Ltd allots Shares of Nirvikara Paper Mills Ltd

Pursuant to Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956 between Balkrishna Industries Ltd (BIL) and Balkrishna Paper Mills Ltd (BPML) and Nirvikara Paper Mills Ltd (NPML) and their respective shareholders and creditors sanctioned by the High Court of Judicature at Bombay vide Order dated December 19, 2014 became effective from February 10, 2015.

On March 31, 2015, NPML has allotted one fully paid up Equity share of Rs. 10/- each of NPML for every nine fully paid equity shares held in BIL to those shareholders of BIL who hold the shares on March 25, 2015, being Record Date.

Shares of BALKRISHNA INDUSTRIES LTD. was last trading in BSE at Rs.749.95 as compared to the previous close of Rs. 745.9. The total number of shares traded during the day was 46809 in over 2022 trades.

The stock hit an intraday high of Rs. 778.1 and intraday low of 741. The net turnover during the day was Rs. 35235554.

Source : Equity Bulls

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