Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Astec LifeSciences Ltd's shareholders to get 11 shares of Godrej Agrovet Ltd for every 10 shares held in the company

Posted On: 2018-09-14 16:51:42

The Board of directors of the company, considered and approved the amalgamation of Astec LifeSciences Limited ('Astec') with Godrej Agrovet Limited ('GAVL') in consideration for Equity Shares of GAVL. The proposed amalgamation would be carried out vide a Scheme of Amalgamation of Astec LifeSciences Limited with Godrej Agrovet Limited and their respective Shareholders ('the Scheme') under Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions, if any, of the Companies Act, 2013.

In consideration for the amalgamation of Astec with GAVL, in terms of the Scheme and based on share entitlement ratio report issued by M/s. Walker Chandiok & Co. LLP, Independent Chartered Accountants and fairness opinion provided by Karvy Investor Services Limited , a Category-I Merchant Banker, GAVL will issue and allot 11 (Eleven) fully paid up equity shares of Rs. 10 /- each to the Equity Shareholders of Astec as on Record Date, for every 10 (Ten) fully paid up equity shares of Rs. 10/- each held by them in Astec.

The Equity Shares of GAVL to be issued to the Shareholders of Astec pursuant to the Scheme shall be listed on the BSE Limited and the National Stock Exchange of India Limited ('Stock Exchanges') (subject to trading permission being granted by the Stock Exchanges). The Scheme would be subject to approval of the National Company Law Tribunal (Mumbai Bench), Stock Exchanges, Securities and Exchange Board of India ('SEBI') and various Statutory Approvals, Shareholders and Lenders/Creditors of each of the companies, as may be directed by the Hon'ble National Company Law Tribunal. The Scheme would also require approval from majority of the public Shareholders as per SEBI Circular Ref. No. CFD/DIL3/CIR/2017/21 dated 10th March, 2017.

Shares of ASTEC LIFESCIENCES LIMITED was last trading in BSE at Rs.621.65 as compared to the previous close of Rs. 590.8. The total number of shares traded during the day was 31082 in over 1339 trades.

The stock hit an intraday high of Rs. 662 and intraday low of 588.7. The net turnover during the day was Rs. 19182528.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

MEP Longjian Loha Waranga Road Pvt Ltd receives appointed date from NHAI

Kalpataru Power Transmission Ltd to acquire 85% stake in Linjemontage i Grastorp AB

Infibeam Avenues Ltd acquires 100% stake in Vavian International Ltd

MEP Longjian CLR Pvt Ltd gets appointed date for its project

Amarjothi Spinning Mills Ltd acquires shares in Premchander Green Energy Pvt Ltd

Coastal Gujarat Power Ltd to sell stake in subsidiary

MEP Longjian ACR Pvt Ltd updates on project

Jet Airways board approves the conversion of lenders' debt into equity

Indiabulls Real Estate Ltd to raise Rs. 600 crore through NCDs

Shalby Ltd updates on implementation of Ayushman Bharat Yojana in Gujarat

The Ramco Cements Ltd bags awards at India Green Manufacturing Challenge - 2018

Gulf Oil Lubricants repays long term non-fund based facilities

Vaibhav Global climbs to 147th rank in Fortune India's Next 500 list

NGL Fine Chem Ltd signs MOU to acquire company

Shree Cement Ltd board to consider Q4, FY19 results, final dividend on May 18, 2019

City Union Bank has opened 4 new branches

CARE reaffirms ratings of NOCIL Ltd

Pritish Nandy Communications Ltd to commence Season 2 of Four More Shots Please!

Airtel further simplifies tariffs with new calling rates

BCL Industries Ltd board to consider conversion of warrants

Jet Airways India Ltd updates on resolution plan

Yuken India Limited updates on JDA with Brigade Enterprises Ltd

Tourism Finance Corporation of India Ltd appoints Mr. Anirban Chakraborty as MD & CEO

Shanthi Gears Ltd appoints additional director

Cochin Shipyard Ltd receives order for 9 vessels

Rainbow Denim Ltd suspends manufacturing activity at its plant

Fire outbreak at Aditya Vision Ltd's office in Patna

Ashoka Buildcon Ltd receives arbitration award of Rs. 36.29 crore

IFGL Refractories Ltd board to consider Q4, FY19 results on May 11, 2019

Velan Hotels Ltd board approves OTS proposal

SQS India BFSI Ltd board to consider terms of buyback

Thomas Cook India sees emergence of Election Tourism during this voting season

Bajaj Electricals Ltd board to consider raising funds through debt securities

Infosys Foundation Signs MoU to Foster Research in Orientology

Orient Paper & Industries Ltd appoints additional director

NTPC declares commercial operation of Unit-3 of 250 MW of Bongaigaon Thermal Power Project

Brickwork Ratings India Pvt Ltd upgrades rating of Aanchal Ispat Limited

JSPL re-starts 1.8 MTPA Direct Reduced Iron (DRI) plant at Angul

DCW Ltd board to consider fund raising on March 29, 2019

Meera Industries Ltd calls for board meeting on March 29, 2019

Jai Corp Ltd redeems 4,50,000 preference shares

Lupin receives FDA approval for Sildenafil Tablets USP

TAYO Rolls Ltd board to consider Q4 results on Apr 8, 2019

Everest Group names HCL a 'Leader' and 'Star Performer' in Cloud enablement services Peak Matrix Assessment 2019

Time Technoplast Ltd receives order of Rs. 210 crores

IOC and BPRL awarded 100% stake in Abu Dhabi Onshore Block 1 Concession

Varun Beverages Ltd gets CCI nod for acquisition of franchise rights from PepsiCo

Bank of Baroda to raise funds through US $ denominated notes

L&T Construction bags contracts for its Buildings and Factories & Water and Effluent Treatment businesses

Tata Motors to increase prices of its Passenger Vehicles from April 2019

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019