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The board of Talwalkars Better Value Fitness (TBVFL) has fixed March 28 as the record date for determining the shareholders of the company who are eligible to receive the allotment of shares of Talwalkars Lifestyles (TLL).
According to the scheme of arrangement, TBVFL would be the demerged company and TLL (of gym business) the resulting company. To retain the brand value of TBVFL synonymous with gym, the name will be swapped in such a way that the gym company, i.e resultant company, will regain the name of TBVFL, and the lifestyle company will be named TLL.
Shareholders of TBVFL will get an equal number of shares in TLL, i.e, in the ratio of 1:1. Shares of TBVFL slipped 1.9 per cent at ₹260.55 on the BSE.
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