Nahar Spinning Mills Ltd shares to relist on Friday - March 23

Bombay Stock Exchange has informed that the equity shares of Nahar Spinning Mills Ltd. (Scrip Code: 500296; ISIN No: INE290A01027), are listed and permitted for trading on the Exchange with effect from Friday, March 23, 2007. Trades effected in the scrip will be in a unit market lot, i.e., one share in the Rolling Settlement.

Pursuant to scheme, the Investment business of NSML was demerged into Nahar Capital and Financial Services Ltd. (NCFSL), and in consideration thereof, NCFSL has issued 1 fully paid equity shares of Rs.5/- each for every 1 equity share of Rs.10/- each fully paid up held in NSML as on record date.

Post demerger, the equity share capital of NSML got reorganized and the paid up value of each equity share of the company stand reducted from Rs.10/- each to Rs.5/- per equity share by cancellation of Rs.5/- per share.

Further, upon demerger and transfer of Textile undertaking of NEL into NSML, the NSML has issued 55 equity shares of Rs.5/- each for every 100 equity shares of Rs.10/- each fully paid up held by the shareholders in NEL as on record date.

The issued, subscribed and paid-up capital of the company post scheme of arrangement as above comes to Rs.1803.26 lacs consisting of 3,60,65,303 equity shares of face value of Rs.5/- each fully paid up.

Source : Equity Bulls

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