Mahindra CIE Automotive allots equity shares

Under scheme of amalgamation

Mahindra CIE Automotive announced that the Allotment Committee of the Board of directors of the Company, has on 02 January 2015, pursuant to (a) the scheme of amalgamation of Mahindra Hinoday Industries ("MHIL"), Mahindra Ugine Steel Company ("MUSCO"), Mahindra Gears International (MGIL), Mahindra Investments (India)(MIIPL) and Participaciones Internacionales Autometal TRES, S.L. (PIA3) with the Company ("Integrated Scheme") AND (b) the scheme of amalgamation of Mahindra Composites ("MCL") with the Company ("Composites Scheme"). [The Integrated Scheme and the Composites Scheme are together referred to as the Schemes and MHIL, MUSCO, MGIL, MIIPL, PIA3 and MCL are collectively hereinafter referred to as the "Transferor Companies".] as approved by the Hon'ble High Court of Judicature at Bombay vide its orders dated 31 October 2014, issued and allotted 22,93,30,519 (Twenty Two Crore Ninety Three Lac Thirty Thousand Five Hundred Nineteen) equity shares of Rs.10/- each as fully paid-up.

Consequent to the above allotment, the paid up equity share capital of the Company has been increased from Rs. 93,45,76,860/- to Rs. 3,22,78,82,050/-, divided into 32,27,88,205 equity shares of Rs. 10/- each.

In terms of the Composites Scheme the Committee has also issued and kept in abeyance 945 (Nine Hundred and Forty Five) equity shares of Rs. 10/- each.

Powered by Capital Market - Live News