The Board of Directors of EID Parry India Ltd at its meeting held on April 25, 2012 have approved a Scheme of Arrangement (Demerger) pursuant to which the Sankili and Haliyal undertakings of Parrys Sugar and Industries Limited (PSIL), the Company's subsidiary, would be merged into the Company w.e.f. April 01, 2012. This is subject to various statutory and regulatory approvals.
Upon this Scheme becoming effective, EID Parry (India) Ltd. shall issue equity shares of the Company to the shareholders of PSIL in the ratio of 5 (Five) equity shares of Re. 1/- each fully paid for every 19 (Nineteen) Equity Share of Rs. 10/- each fully paid, held by them in PSIL.
The EID Parry India Ltd stock closed the day at Rs.180.30, down by Rs.3.20 or 1.74%. The stock hit an intraday high of Rs.186.90 and low of Rs.180.10.
The total traded quantity was 3002 compared to 2 week average of 129878.
The Parrys Sugar and Industries Limited stock closed the day at Rs.69.95, up by Rs.3.30 or 4.95%. The stock hit an intraday high of Rs.69.95 and low of Rs.69.95.
The total traded quantity was 1012 compared to 2 week average of 184.