LG Balakrishnan down on demerger
LG Balakrishnan has approved the scheme for demerger of the forging division into a separate company, LGB Forge Ltd, with effect from April 1, 2008.
By INDIATIMES NEWS NETWORK |
MUMBAI: LG Balakrishnan has approved the scheme for demerger of the forging division into a separate company, LGB Forge Ltd, with effect from April 1, 2008.
As per the share entitlement ratio, shareholders of the company will get one share of Re 1 each in LGB Forge for every share held in LG Balakrishnan.
Post-demerger, LGB Forge shares will be listed on Bombay Stock Exchange, National Stock Exchange, Madras Stock Exchange and Coimbatore Stock Exchange. At 12:39 pm, LG Balakrishnan shares were down 1.72 per cent at Rs 42.80 on BSE.
As per the share entitlement ratio, shareholders of the company will get one share of Re 1 each in LGB Forge for every share held in LG Balakrishnan.
Post-demerger, LGB Forge shares will be listed on Bombay Stock Exchange, National Stock Exchange, Madras Stock Exchange and Coimbatore Stock Exchange. At 12:39 pm, LG Balakrishnan shares were down 1.72 per cent at Rs 42.80 on BSE.
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