The Hindu Business Line : Rain Ind allots shares to Priyadarshini Cement

HYDERABAD: Priyadarshini Cement Ltd has informed bourses that consequent to the sanction of the High Court of Andhra Pradesh to the scheme of arrangement between the company and Rain Industries Ltd, the latter has allotted 1,47,50,000 equity shares at a price of Rs 52 per share (Rs 10 face value plus Rs 42 premium) to Priyadarshini Cement on September 25 towards consideration for the transfer of assets and liabilities by the cement company to Rain Industries.

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