Aksh Optifibre allots over 2 cr shares to Aksh Broadband
Aksh Optifibre on Thursday said it has allotted over 2.02 crore shares to Aksh Broadband pursuant to the latter's merger with itself.
By PTI |
MUMBAI: Aksh Optifibre on Thursday said it has allotted over 2.02 crore shares to Aksh Broadband pursuant to the latter's merger with itself.
Pursuant to the merger, the sub committee of directors at a meeting yesterday allotted seven shares for every two shares held in Aksh Broadband of Rs 5 each, the optical fibre manufacturer informed the Bombay Stock Exchange.
Earlier in May 2006, Aksh Optifibre's board had approved to acquire all the undertakings of Aksh Broadband by merging the company with itself with effect from April 1, 2006.
The amalgamation was subject to the approval of High Courts of Delhi and Jaipur.
Aksh Broadband Ltd provides voice and broadband networks to companies in telecommunication and information technology sectors.
Shares of Aksh Optifibre were trading at Rs 39.40, up 1.55 per cent on the BSE in afternoon trade.
Pursuant to the merger, the sub committee of directors at a meeting yesterday allotted seven shares for every two shares held in Aksh Broadband of Rs 5 each, the optical fibre manufacturer informed the Bombay Stock Exchange.
Earlier in May 2006, Aksh Optifibre's board had approved to acquire all the undertakings of Aksh Broadband by merging the company with itself with effect from April 1, 2006.
The amalgamation was subject to the approval of High Courts of Delhi and Jaipur.
Aksh Broadband Ltd provides voice and broadband networks to companies in telecommunication and information technology sectors.
Shares of Aksh Optifibre were trading at Rs 39.40, up 1.55 per cent on the BSE in afternoon trade.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
