Mandhana Industries has rallied 7% to Rs 312 on the BSE after the company said that the High Court of judicature at Bombay approved the scheme of arrangement for demerger of the retail undertaking of the company into Mandhana Retail Ventures.
The board of directors of Mandhana Industries on November 22, 2014, had approved the demerger of the company’s retail and trading business of the brand Being Human to Mandhana Retail Ventures Limited (MRVL).
The shareholders of Mandhana Industries will get 2 (two) equity shares of MRVL to every shareholder holding 3 (three) equity shares of the company.
At 11:12 AM, the stock was up 5% at Rs 305 on the BSE as compared to 0.34% decline in the S&P BSE Sensex. A combined 54,978 shares changed hands on the BSE and NSE.
The board of directors of Mandhana Industries on November 22, 2014, had approved the demerger of the company’s retail and trading business of the brand Being Human to Mandhana Retail Ventures Limited (MRVL).
The shareholders of Mandhana Industries will get 2 (two) equity shares of MRVL to every shareholder holding 3 (three) equity shares of the company.
At 11:12 AM, the stock was up 5% at Rs 305 on the BSE as compared to 0.34% decline in the S&P BSE Sensex. A combined 54,978 shares changed hands on the BSE and NSE.
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