Suryavanshi Spinning allots 4162536 shares

Suryavanshi Spinning Mills Ltd has announced that the Board of Directors of the Company at its meting held on March 31, 2008 has allotted 41,62,536 equity shares of Rs 10/- each (fully paid up) of the Company to the shareholders of Suryavanshi Textiles Ltd, in the ratio of 54 equity shares of Rs 10/- each for every 100 equity shares of Suryavanshi Textiles Ltd.

The above allotment is made pursuant to the scheme of Amalgamation of Suryavanshi Textiles Ltd, with the Company sanctioned by BIFR vide their order dated September 17, 2007 and the said amalgamation was approved by the members of the Company at their Extra Ordinary General Meeting held on June 14, 2007.

With this allotment the present paid-up capital of the Company stands increased from Rs 715 lakhs to Rs 1132 lakhs.

Source : Equity Bulls

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