Aarti Surfactants Limited to list on July 14, 2020

Effective from Tuesday, July 14, 2020, the equity shares of Aarti Surfactants Limited shall be listed and admitted to dealings on the Bombay Stock Exchange in the list of T Group of Securities.

Further, trading in the scrip shall continue to remain in Trade-for-Trade segment till further notice since minimum of 100% of the promoter equity shareholding of the company is not in demat form.

Pursuant to the Composite Scheme of Arrangement between Aarti Industries Limited (AIL) and Aarti Surfactants Limited (ASL) and Nascent Chemical Industries Limited (NCIL) and their respective Shareholders and Creditors as sanctioned by the Ahmedabad Bench of the Hon'ble National Company Law Tribunal; the "Home and Personal Care" Undertaking of AIL has been transferred to and vested in ASL. In consideration of the demerger, ASL shall issue its shares to the Shareholders of AIL as per either of the option to subscribe as selected by Shareholders of AIL in the following manner:

"1 fully paid up Equity Share of ASL shall be issued and allotted for every 10 fully paid up Equity Shares held in AIL"

OR

"1 fully paid up Redeemable Preference Share of ASL shall be issued and allotted for every 10 fully paid up Equity Shares held in AIL"

Prior to the Scheme, the paid-up Equity Capital of ASL was Rs. 0.05 crores consisting of 50,000 equity shares of face value of Rs.10/- each. Pursuant to the Scheme, the pre-arrangement Share Capital of ASL has been cancelled.

The issued, subscribed and paid-up Equity Capital of ASL post arrangement is Rs. 7.584477 crores consisting of 75,84,477 Equity Shares Rs.10/- each.

The issued, subscribed and paid-up Redeemable Preference Capital of ASL post arrangement is Rs. 1.082387 crores consisting of 10,82,387 Redeemable Preference Shares Rs.10/- each.

Source : Equity Bulls

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