Sujana Towers Limited (STL) to list on August 21, 2007

Bombay Stock Exchange has announced that the securities of Sujana Towers Limited shall be listed and permitted for trading with effect from Tuesday, August 21, 2007. The shares will be listed under the B1 Group of securities.

The company's 3,89,33,035 Equity shares of Rs.5/- each fully paid-up were issued to the shareholders of Sujana Metal Products Ltd. ("SMPL") pursuant to the scheme of arrangement of the Company.

The ISIN Code of the company is INE333I01010.

The issued, subscribed and paid-up capital of the company pre scheme of arrangement was Rs.5 lacs consisting of 50,000 Equity shares of Rs.10/- each. Pursuant to the scheme, the paid-up capital of Rs.5 lacs was reorganized into 1,00,000 Equity shares of Rs.5/- each.

Pursuant to the Scheme of Arrangement between Sujana Metal Products Ltd., ("SMPL"), Sujana Towers Limited ("STL") and their respective shareholders, the "Towers Division" of SMPL got demerged and vested in STL on a going concern basis and in consideration thereof, STL issued and allotted 3,88,33,035 Equity shares of Rs.5/- each fully paid up to the shareholders of SMPL on June 08, 2007, in the ratio of 1 (One) Equity Share of Rs.5/- each fully paid-up for every 1 (One) Equity Share of Rs.10/- each held in SMPL.

The issued, subscribed and paid-up capital of the company post scheme of arrangement comes to Rs.1946.6517 lacs consisting of 3,89,33,035 Equity shares of Rs.5/- each fully paid up.

The Registrar to the company is Bigshare Services Pvt Ltd.

Source : Equity Bulls

Keywords