NXTDIGITAL Ltd allots shares to shareholders of IndusInd Media & Communications Limited

The Board of Directors of NXTDIGITAL LIMITED (Formerly known as Hinduja Ventures Limited) at its meeting held today i.e. August 26, 2020, approved to issue 34, 95,655 new equity shares of Rs. 10/- each for allotment to the shareholders of IndusInd Media & Communications Limited (IMCL) pursuant to clause 4 of the Scheme of Arrangement between NXTDIGITAL LIMITED and IndusInd Media & Communications Limited (IMCL) and its respective shareholders by which Media and Communication undertaking of IMCL is demerged into the Company.

The Board of Directors also authorised the Stake holders relationship Committee to complete all formalities and procedures for allotment of the new equity shares to shareholders of IMCL.

The Scheme of Arrangement was approved by Hon'ble National Company Law Tribunal, Mumbai Bench vide its order dated August 21, 2020 and it became effective on filing of the said order with Registrar of Companies on August 21, 2020.

Shares of NXTDIGITAL LIMITED (Formerly known as Hinduja Ventures Limited) was last trading in BSE at Rs.674 as compared to the previous close of Rs. 661.05. The total number of shares traded during the day was 1223 in over 187 trades.

The stock hit an intraday high of Rs. 674 and intraday low of 653. The net turnover during the day was Rs. 813331.

Source : Equity Bulls

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