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Stock Report
Merger of Medinova Diagnostic Services Limited with Vijaya Diagnostic Centre Limited
Posted On : 2024-06-26 13:40:06( TIMEZONE : IST )
The Board of Directors of Vijaya Diagnostic Centre Limited ("VDCL") and Medinova Diagnostic Services Limited ("MDSL") at their respective Board meetings held today, approved the Scheme of Amalgamation for the merger of MDSL with and into VDCL ("Merger").
The proposed Merger aims to combine the businesses of both companies and create synergies and enhanced value for the stakeholders of the MDSL and VDCL.
MDSL is a subsidiary of VDCL which holds 62.14% equity stake in MDSL. MDSL is in the business of providing comprehensive range of diagnostic services, spanning pathological investigations, radiology and imaging, and diagnostic cardiology.
The Merger is, inter alia, subject to the approval of the Stock Exchanges, SEBI, National Company Law Tribunal, ROC and respective shareholders & creditors of MDSL and VDCL.
Upon the Scheme of Amalgamation becoming effective, all the public shareholders of MDSL (as on the record date) will be issued 1 Equity Share of face value of INR 1 each (Indian Rupees One) of VDCL for every 22 Equity Shares of face value of INR 10 each (Indian Rupees Ten) held in MDSL.
The said shares will be listed on both, the National Stock Exchange of India Limited (NSE) and the BSE Limited.
Shares of MEDINOVA DIAGNOSTIC SERVICES LTD. was last trading in BSE at Rs. 35.83 as compared to the previous close of Rs. 35.90. The total number of shares traded during the day was 2986 in over 43 trades.
The stock hit an intraday high of Rs. 36.50 and intraday low of 35.21. The net turnover during the day was Rs. 106940.00.
Shares of Vijaya Diagnostic Centre Ltd was last trading in BSE at Rs. 770.75 as compared to the previous close of Rs. 764.15. The total number of shares traded during the day was 11730 in over 1418 trades.
The stock hit an intraday high of Rs. 775.00 and intraday low of 747.00. The net turnover during the day was Rs. 9012872.00.
