Thambbi Modern Spinning Mills Ltd board approves demerger proposal

The Board of Directors of Thambbi Modern Spinning Mills Ltd, in its meeting held on 28/10/2021 at 10.00 AM have considered and approved the proposal for demerger of the Company, wherein the existing undertaking of the Company will be divided into two divisions viz.,Division-1 Omalur Road,Jagir Ammapalayam,Salem-636 302 and Division-2 - Kamaraj Nagar Colony, (Opp to TNEB Sub-station) Udayapatty,Salem-636 014 and the divisions shall be hived off to into two Resulting Companies to be incorporated by way of a Scheme of Arrangement (Demerger).

Shares of THAMBBI MODERN SPINNING MILLS LTD. was last trading in BSE at Rs. 8.83 as compared to the previous close of Rs. 8.83. The total number of shares traded during the day was 1 in over 1 trades.

The stock hit an intraday high of Rs. 8.83 and intraday low of 8.83. The net turnover during the day was Rs. 8.00.

Source : Equity Bulls

Keywords

THAMBBIMODERNSPINNINGMILLS INE830D01016 Textiles Demerger