HCL allocates 1.55 lakh shares to Geometric shareholders

IT company HCL Technologies today said it has allocated 1,55,63,430 equity shares of face value of Rs 2 each to shareholders of Geometric 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 shares of face value Rs 2 each, fully paid-up to the equity shareholders of the Geometric," HCL Technologies said in a BSE filing.
In April last year, HCL Technologies had signed an agreement to acquire all the business of Geometric in an equity swap deal.
The acquisition, however, excluded the 58 per cent stake that Geometric 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 Geometric has been transferred to HCL.

The shareholders of Geometric have been allotted 10 equity shares of face value of Rs 2 of HCL Technologies for every 43 equity shares of face value of Rs 2 each held by them in Geometric as on the record date of March 15, 2017.
Mumbai-based Geometric provided IT solutions in product life cycle management consulting, mechanical engineering and manufacturing engineering services.
HCL Technologies 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 shares of face value of Rs 2 each aggregating to Rs 285,35,66,848," HCL said.