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The Board of Seshasayee Paper on Thursday approved the merger of group company SPB Papers Ltd with Seshasayee Paper and Boards Ltd.
In a filing to BSE, the company said the board of directors at its meeting held today “have approved the ‘Scheme of Amalgamation’ for the amalgamation of SPB Papers Ltd with Seshasayee Paper and Boards Ltd“.
The board have approved the share exchange ratio for the said amalgamation through equity share of the nominal value of Rs 10 each of Seshasayee Paper and Boards for every 11 equity shares of the nominal value of Rs 10 each of SPB Papers Ltd, the statement added.
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