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The board of directors of Jindal Photo and Jindal Poly Films will meet on Monday to discuss and approve a scheme of arrangement between the companies. Jindal Photo markets and sells consumer photo imaging products under the Kodak brand and medical x-ray under the Fujifilm brand. Jindal Poly Films makes polyester and polypropylene films. Investors will be keen on swap ratio for the scheme of arrangement.
Maharaja Shree Umaid delisting may sail thru
The delisting offer of Maharaja Shree Umaid Mills may sail through as the company could mop up over 40 lakh shares against a target of 65.28 lakh. The offer closed on Friday. The delisting will turn success if promoters' holding reaches 90 per cent of the company. That means, the promoters would have to buy close to 40 lakh shares. Shares may come under pressure, as the maximum bid came in at ₹80 a share.
Jindal Stainless asset monetisation
The board of directors of Jindal Stainless will meet on Monday to consider a scheme on asset monetisation and business reorganisation plan. The company has been incurring losses since 2012. Jindal Stainless has been rigorously working on a comprehensive plan of asset monetisation cum business reorganisation that would entail monetisation of identified assets through demerger /slump sale to pare its piling debt.
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