The Hindu Business Line : GMR allots shares to VIL members

GMR Industries Ltd has informed the stock exchanges that its board of directors has recently allotted 51.74-lakh equity shares and 2.06-crore preference shares to the members of erstwhile Varalakshmi International Ltd (VIL) as per scheme of amalgamation by the respective High Courts.

The board has allotted one equity share of Rs 10 each fully paid and four redeemable preference shares of Rs 11 each fully paid for every two equity shares of Rs 10 each fully paid held in VIL.

The company said the new equity shares would be listed on the stock exchanges and would rank pari-passu with existing equity shares of the company. The preference shares would not be listed on the stock exchanges.

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