 "Mandhana Industries trades ex-demerger of retail business")
Mandhana Industries was locked in lower circuit of 5% at Rs 44.65 on the BSE as the stock was trading ex-demerger of retail and trading business.
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).
MRVL is the resulting company pursuant to scheme of demerger of the retail business of the Mandhana Industries. The shareholders of Mandhana Industries will get 2 (two) equity shares of (MRVL) to every shareholder holding 3 (three) equity shares of the company.
The stock opened at Rs 47 and has seen a combined 357,166 shares changing hands on the counter. There were pending sell orders for 836,187 shares on the BSE and NSE at 12:14 pm. On Wednesday, the stock closed at Rs 123.
Mandhana Industries has fixed record date as September 23, 2016 for determining the eligibility of the equity shareholders of the demerged company to whom the equity shares of resulting company will be issued pursuant to the scheme of demerger.
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).
MRVL is the resulting company pursuant to scheme of demerger of the retail business of the Mandhana Industries. The shareholders of Mandhana Industries will get 2 (two) equity shares of (MRVL) to every shareholder holding 3 (three) equity shares of the company.
The stock opened at Rs 47 and has seen a combined 357,166 shares changing hands on the counter. There were pending sell orders for 836,187 shares on the BSE and NSE at 12:14 pm. On Wednesday, the stock closed at Rs 123.
Mandhana Industries has fixed record date as September 23, 2016 for determining the eligibility of the equity shareholders of the demerged company to whom the equity shares of resulting company will be issued pursuant to the scheme of demerger.
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