Coromandel International allots shares to Sabero Organics shareholders

The Board of Directors of Coromandel International Ltd has, at its meeting held on January 23, 2015 allotted 53,09,210 equity shares of Re. 1 each, fully paid up to the eligible shareholders of Sabero Organics Gujarat Limited, in the ratio of 5 equity shares of Re. 1 each, fully paid up in Coromandel, for every 8 equity shares of Rs. 10 each held in Sabero, pursuant to the Scheme of Amalgamation of Sabero with Coromandel.

The company had earlier announced regarding the Record Date (January 19, 2015) for determining the shareholders of Sabero Organics Gujarat Limited (Sabero) who would be eligible to receive the shares of Coromandel International Limited (Coromandel/Company) pursuant to the Scheme of Amalgamation of Sabero with Coromandel.

Shares of COROMANDEL INTERNATIONAL LTD. was last trading in BSE at Rs.294.85 as compared to the previous close of Rs. 300.1. The total number of shares traded during the day was 78357 in over 4669 trades.

The stock hit an intraday high of Rs. 307.5 and intraday low of 292. The net turnover during the day was Rs. 23480119.

Source : Equity Bulls

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