Mold-tek Plastics receives SEBI clearance for listing

Mold-tek Plastics Ltd, the demerged plastic packaging manufacturing unit of Mold-tek Technologies Ltd has received the approval for listing from SEBI.

The company was formed on demerger of plastics packaging business and information technology KPO business into 2 distinct entities, the resulting company and the demerged company respectively.

Post demerger, shareholders of Mold-tek Technologies Ltd were allotted 28 shares in Mold-tek Technologies Ltd (KPO division) and 72 shares in Mold-tek Plastics Ltd. The share capital of Mold-tek Technologies Ltd after the demerger is Rs 3,59,00,240 (divided into 3590024 equity shares of Rs 10 each) and the share capital of Mold-tek Plastics Ltd is Rs 7,94,57,760 (divided into 7945776 shares of Rs 10 each).

In a response to the e-mail sent by EquityBulls.com, Chairman & CEO Mr.Laxman J Rao said, "The SEBI clearance has been just received. Other BSE conditions will need a week to fulfill. We hope the listing will take place before 2nd week of June."

Source : Equity Bulls

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