The Hindu Business Line : Corporate developments

Coimbatore, Aug. 26 Indo Rama Synthetics (India) Ltd that had temporarily shut-down the Polyester Plant until 3rd week of August due to high raw material prices has said the operations have resumed in a phased manner from August 25 and full production in all lines will be restored gradually.

Jaypee Hotels Ltd’s board of directors has formed a committee of four directors to consider various options of expansion, restructuring of the company including amalgamation of the company with other company/companies having synergy with its business.

NMDC Ltd has informed that the Government of India has conveyed its approval for June 30 as the appointed date for the purpose of merger of Sponge Iron India Ltd, Hyderabad (SIIL) with NMDC Ltd, Hyderabad, through acquisition of shares of SIIL by NMDC.

Pennar Industries Ltd has received communication from M/s J R Realtor Services Pvt Ltd, Hyderabad, about their purchasing 1.3 crore shares in the company, which works out to 10.28 per cent of its share capital.

Ray Ban Indian Holdings Inc (acquirer), with regard to the proposal to buy-back equity shares of RayBan Sun Optics India Ltd (target company), equal to 72,10,554 shares (offer shares) and delisting the company, has accepted the discovered price of Rs 140 an offer share (exit price) established by the reverse book building process, which opened on August 18 and closed on August 22 for shareholders holding offer shares in the dematerialised form. The acquirer shall accept all the bids at or below the exit price and the shareholders who have tendered their offer shares at or below the exit price will be paid the consideration. The final settlement date for the offer share held in demat form is August 27. Dispatch of consideration to the shareholders will start upon the completion of the final settlement according to the bid letter.

Sharp India Ltd has commenced the production of LCD TVs at its factory at Koregoan Bhima.

Take Solutions Ltd has fixed September 25 as the record date for the purpose of sub-division of equity shares from Rs 10 a share to Re 1 a share.

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