Gabriel India fixes Record Date for demerger

Gabriel India Ltd has announced that June 01, 2007 has been fixed as the Record Date for the purpose of Scheme of Arrangement.

- Record Date to determine the eligibility of Members of the Company to be issued and allotted equity shares of Anand Engine Components Ltd in the Demerger Share Entitlement Ratio of 1 equity share of Rs 10/- each credited as filly paid up of Anand Engine Components Ltd for every 50 equity shares of Re 1/- each fully paid up held by such member in the Company. As per the Demerger Scheme as approved by the Hon'ble High Court, Anand Engine Components Ltd will be an Unlisted Company.

The stock was trading at Rs.31.80, up by Rs.1.65 or 5.47%. The stock hit an intraday high of Rs.33.50 and low of Rs.30.95. The total traded quantity was 41084 compared to 2 week average of 18889.

Source : Equity Bulls

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