Business Daily from THE HINDU group of publications
Tuesday, Jan 01, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 01, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Restructuring LGB hives forging unit Coimbatore, Dec. 31 The board of LG Balakrishnan & Bros Ltd's at its meeting on Monday approved the scheme for demerger of the forging division into a separate company. The company will demerge the forging division consisting of hot forging division, warm forging division & cold forging division into a separate company, LGB Forge Ltd, with effect from April 1, 2008 through High Court approved process. The board accepted the share entitlement ratio for the demerger, subject to regulatory approvals. As per the share entitlement ratio, the shareholders of the company will be issued, at no cost, one fully paid-up equity share of Re 1 each in LGB Forge Ltd for every share of Re 1 each of the company held. Post demerger, shares of LGB Forge Ltd will be listed on the exchanges where the company is currently listed. - Our Bureau More Stories on : Restructuring | Bearings | tings & Forgings
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