Ashok Leyland approves allotment of shares on scheme of amalgamation of Hinduja Foundries Limited

Pursuant to the Scheme of Amalgamation of Hinduja Foundries Limited with Ashok Leyland Limited and their respective shareholders under Sections 391 to 394, read with other applicable provisions of the Companies Act, 1956 and Companies Act, 2013 (Scheme), the Committee of the Board of Directors of Ashok Leyland Limited at its meeting held on June 13, 2017 have allotted 806,58,292 equity shares of face value Re.1/- each, fully paid-up to the equity shareholders of Hinduja Foundries Limited, as on the Record Date of June 7, 2017, as per the Share Exchange Ratio in terms of the Scheme.

Consequent to the said allotment, the paid-up share capital of the Company has gone up to Rs.292.65 crore (2926,534,926 equity shares of face value of Re.1/- each).

Application will be made for listing and trading approval of the Stock Exchange(s) for the above shares subsequently.

Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.95.1 as compared to the previous close of Rs. 94.1. The total number of shares traded during the day was 971990 in over 4042 trades.

The stock hit an intraday high of Rs. 96.65 and intraday low of 94.65. The net turnover during the day was Rs. 93170615.

Source : Equity Bulls

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