Mahindra Forgings allots Equity Shares pursuant to Scheme of Arrangement

Mahindra Forgings Ltd has announced that the Company has received approval from Foreign Investment Promotion Board (FIPB) for allotment of equity shares pursuant to Scheme of Arrangement to the Non-resident shareholders of Transferor companies.

Consequently, the Committee of Directors of the Company at its meeting held on February 04, 2008 has allotted 11,691,916 equity shares of Rs 10/- each to the following Non-resident shareholders of the Transferor Companies:

1. Promethean I Limited 2,258,447
2. Thomas Korner Gmbh 1,175,510
3. Scholz AG 8,257,959.

Source : Equity Bulls

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