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Indsil Hydro Power and Manganese Ltd updates on merger

Posted On: 2019-09-06 23:38:33

Pursuant to the sanction of the Scheme of Amalgamation of Sree Mahalakshmi Smelters Private Limited, a Wholly Owned Subsidiary, (Transferor Company) with Indsil Hydro Power and Manganese Limited (Transferee Company) vide Order of National Company Law Tribunal, Chennai Bench dated 7th August, 2019 and 13th August, 2019, both the Transferor Company & Transferee Company have filed the said order with the Registrar of Companies, Coimbatore on 5th September, 2019.

Accordingly, the effective date of the Scheme of Amalgamation shall be 5th September, 2019 and as such M/s.Sree Mahalakshmi Smelters Private Limited will be deemed to have been merged with the Company from the appointed date i. e., 1st April, 2018.

Shares of INDSIL HYDRO POWER AND MANGANESE LTD. was last trading in BSE at Rs.27.8 as compared to the previous close of Rs. 26. The total number of shares traded during the day was 462 in over 8 trades.

The stock hit an intraday high of Rs. 27.9 and intraday low of 26.5. The net turnover during the day was Rs. 12625.


Source: Equity Bulls

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