Classic Diamonds Board approves Stock Split

Classic Diamonds India Ltd has announced that the Board of Directors of the Company at its meeting held on November 09, 2006 has approved the following:

1. Scheme of Amalgamation of M/s Purvi Diamonds Pvt Ltd (Transferor Co.) with the Company, (Transferee Co.).

2. Proposal to raise funds for overseas acquisitions upto $100 million.

3. Proposal for Splitting of the shares of the Company from Rs 10 per share to Rs 2 per share.

Source : Equity Bulls

Keywords