Dhampure Specialty to demerge real estate division

Dhampure Specialty Sugars Ltd has announced that the company on November 13, 2007 has approved the share exchange ratio for demerger and merger of divisions.

The company will be amalgamated with Dhampur Alco-Chem Ltd and 1 equity Share of Dhampur Alco-Chem Ltd will be issued for every 1 equity share held in the Company.

The De-merger of real estate division of Dhampur Alco-Chem Ltd into Sun Infoplanet Ltd : 1 equity share of Sun Infoplanet Ltd for every 5 equity shares held in Dhampur Alco-Chem Ltd.

The Board of Directors has also approved the Composite Scheme of Amalgamation and De-merger.

The stock was trading at Rs.187.60, up by Rs.8.90 or 4.98%. The stock hit an intraday high of Rs.187.60 and low of Rs.187.60.

The total traded quantity was 23978 compared to 2 week average of 116173.

Source : Equity Bulls

Keywords