Torrent Power Ltd approves allotment of 8168476 Equity Shares to the Shareholders of Torrent Cables Limited

Pursuant to the Composite Scheme of Amalgamation of Torrent Energy Limited ("TEL" or "Transferor Company-1") and Torrent Cables Limited ("TCL" or "Transferor Company-2") with Torrent Power Limited ("Company" or "TPL" or "Transferee Company") and their respective shareholders and creditors ("the Scheme"), the Committee of Directors of Torrent Power Ltd at its meeting held on October 23, 2015 has approved the allotment of 81,68,476 equity shares of Rs. 10 each, fully paid up, at par, in accordance with Para 7 of the Scheme in the ratio of 19 (Nineteen) equity shares of face value of Rs.10/- each, fully paid-up, at par of Torrent Power Limited for every 20 (Twenty) equity shares of face value of Rs.10/- each fully paid-up held in Torrent Cables Limited by the shareholders of TCL, whose names appear in the Register of Members / Register of Beneficial Owners as at the close of business hours on October 16, 2015, the Record Date fixed for the purpose.

Shares of TORRENT POWER LTD. was last trading in BSE at Rs.179.9 as compared to the previous close of Rs. 181.6. The total number of shares traded during the day was 135583 in over 1787 trades.

The stock hit an intraday high of Rs. 185.5 and intraday low of 179. The net turnover during the day was Rs. 24642341.

Source : Equity Bulls

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