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HCL allocates 1.55 lakh shares to Geometric shareholders

Press Trust of India  |  New Delhi 

IT company today said it has allocated 1,55,63,430 equity of face value of Rs 2 each to shareholders of Ltd which merged with it this year.

"...The Board of Directors of the Company in its meeting held on March 20, 2017, has allotted 1,55,63,430 equity of face value Rs 2 each, fully paid-up to the equity shareholders of the Geometric," said in a filing.

In April last year, had signed an agreement to acquire all the business of in an equity swap deal.

The acquisition, however, excluded the 58 per cent stake that owned in a joint venture -- 3D PLM Software Solutions Ltd -- with Dassault Systemes.

The amalgamation scheme became effective from March 2 this year.

Under the transaction, the entire business of has been transferred to HCL.

The shareholders of have been allotted 10 equity of face value of Rs 2 of for every 43 equity of face value of Rs 2 each held by them in as on the record date of March 15, 2017.

Mumbai-based provided IT solutions in product life cycle management consulting, mechanical engineering and manufacturing engineering services.

is India's fourth largest IT services firm.

"Consequent to the said allotment, the paid-up share capital of the Company has gone up to 142,67,83,424 equity of face value of Rs 2 each aggregating to Rs 285,35,66,848," HCL said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 20 2017. 21:57 IST