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Our Bureau

New Delhi, April 25

The board of directors of real estate company Ansal Properties and Infrastructure Ltd has approved a scheme of amalgamation entailing merger of unlisted firm Ansal Township and Projects Ltd with the company.

The board, during its meeting held recently, accepted the valuation reports and cleared a swap ratio of one equity share of Rs 5 each of the company against every two equity shares of Rs 2 each held in Ansal Township and Projects Ltd, the company said in a notice to the Bombay Stock Exchange.

It said the proposal of split of the company's shares from Rs 10 each to Rs 5 each would be considered at the extraordinary general meeting on May 2.

More Stories on : Mergers & Acquisitions | Real Estate & Construction

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