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A scheme of arrangement envisages merger of Gujarat Borosil, Vyline Glass Works and Fennel Investment & Finance into Borosil Glass Works and also demerger of the consumer and scientific businesses of Borosil Glass Works into Borosil. Accordingly, two shares of Gujarat Borosil will fetch one share each in Borosil Glass Works and Borosil. Borosil Glass Works, which will handle the solar glass business, will be renamed Borosil Renewables and will continue to be publicly traded.
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