Hindustan Foods fixes March 5, 2022 as record date for merger

Hindustan Foods Limited had on December 23, 2021 received the Order of the Hon'ble National Company Law Tribunal, Mumbai Bench ('Hon'ble NCLT'), pronounced on December 21, 2021 sanctioning the Scheme of Arrangement and Amalgamation between Avalon Cosmetics Private Limited ('the Demerged Company' or 'ACPL') and ATC Beverages Private Limited ('the Transferor Company' or 'ABPL') and Hindustan Foods Limited ('the Resulting Company' or 'the Transferee Company' or 'the Company' or 'HFL') and their respective Shareholders ('the Composite Scheme' or 'the Scheme').

The Scheme has become effective post filing of e-Form INC-28 on February 18, 2022 with the Registrar of Companies, Mumbai and the Board considered and took on record the Effective date of the said Scheme.

The board has fixed Saturday, March 05, 2022 as the Record Date for the purpose of determining the entitlement for issue of Equity Shares of the Company to the Shareholders of Avalon Cosmetics Private Limited ('the Demerged Company' or' ACPL') and ATC Beverages Private Limited ('the Transferor Company' or 'ABPL') based on the share exchange ratio.

Shares of Hindustan Foods Limited was last trading in BSE at Rs. 1996.00 as compared to the previous close of Rs. 1962.90. The total number of shares traded during the day was 433 in over 102 trades.

The stock hit an intraday high of Rs. 2018.05 and intraday low of 1961.05. The net turnover during the day was Rs. 862748.00.

Source : Equity Bulls

Keywords

HindustanFoods INE254N01018 HNDFDS PackagedFoods RecordDate Merger