The Hindu Business Line : Corporate developments

Coimbatore, May 4 AIA Engineering Ltd’s Board of Directors has approved the splitting of face value of equity shares Rs 10 each into 5 equity shares of Rs 2 each.

Celebrity Fashions Ltd has informed that manufacturing operations at its MEPZ plant resumed on June 4. Over 170 workers who caused the illegal strike, which led to the suspension of operations at the plant, have been removed from its payrolls and have left the company.

Dhunseri Tea & Industries Ltd has informed that June 20 has been fixed as the record date for the purpose of determining the eligibility of the shareholders of Tezpore Tea Company Ltd (Transferor Company), to whom shares of Dhunseri Tea and Industries Ltd (transferee company) will be allotted as per the Scheme of Amalgamation of Tezpore Tea Company Ltd with the Dhunseri Tea & Industries Ltd.

Educomp Solutions Ltd’s Board of Directors, pursuant to the shareholders’ approval for raising up to $500 million through FCCB/ADR/GDR/QIP, has decided to raise up to $250 million through issue of Global Depository Receipts (GDRs) including a green shoe option (if any) of up to 15 per cent of the size of the issue.

Jindal Steel & Power Ltd has informed that Jindal Power Ltd (JPL), a subsidiary company, has entered into a Memorandum of Understanding (MOU) with the Government of Jharkhand for setting up a 2,640 MW (4X660 MW) power project at an estimated cost of Rs 11,880 crore.

Redington India Ltd’s Board of Directors has approved formation of a new subsidiary in Cayman Islands and will make investments up to $1 million in the share capital of the new subsidiary.

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