Kanishk Steel share capital increases on amalgamation

Kanishk Steel Industries Ltd has announced that the Scheme of Amalgamation between M/s. O P Steels Ltd and M/s. Avanti Oil & Steel Industries Pvt Ltd, was sanctioned by the High Court, Chennai & the High Court Delhi, vide their Orders dated January 12, 2006 & July 25, 2006, respectively.

As per Clause 12 of the Scheme, the Company, increased the Share Capital from Rs 25 Crores to Rs 30 Crores, divided into 2,98,00,000 Equity Shares of Rs 10/- each and 20,000 15% Cumulative Redeemable Preference Shares of Rs 100/- each.

In accordance with Clause 12 of the Scheme the Company shall allot Equity Shares to M/S. O P Steels Ltd, and M/S. Avanti Oil & Steel Industries Pvt Ltd, Shareholders as on the record date.

Source : Equity Bulls

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