Shareholders of Ganesh Housing approve merger of 5 cos
Ganesh Housing Corporation, engaged in construction and real estate, on Tuesday said its shareholders have approved the amalgamation of five companies - Ramasagar Infrastructure, Nachiket Properties, Manjari (Thaltej) Complex, Shaharsh Infrastruct...
By PTI |
MUMBAI: Ganesh Housing Corporation, engaged in construction and real estate, on Tuesday said its shareholders have approved the amalgamation of five companies - Ramasagar Infrastructure, Nachiket Properties, Manjari (Thaltej) Complex, Shaharsh Infrastructure and Ganesh Infrastructure - with itself.
"The meeting of the shareholders of the company, held on May 26, unanimously approved the Scheme of Amalgamation," Ganesh Housing informed the BSE.
The amalgamation would enable the company to achieve scale, size, integration and enhanced financial capability along with the flexibility of pursuing future growth plans, it added.
The requirements of holding meetings of secured and unsecured creditors of the company to seek their approval to the Scheme of Amalgamation have been dispensed with by order of the High Court of Gujarat, Ganesh Housing said.
The paid-up equity share capital of Ganesh Housing (post amalgamation) shall be increased from Rs 20,72,70,800 to Rs 32,65,58,800 (including 6,60,000 convertible warrants which shall be converted into 6,60,000 equity shares of Rs 10 each in May / June), the company had earlier stated.
Shares of the company were last trading at Rs 348, down 0.60 per cent on the BSE.
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