Monnet Ispat to merge Mounteverest Trading with self

Monnet Ispat today said its board has approved the merger of Mounteverest Trading & Investment Ltd with itself.

The swap ratio for the proposed merger shall be two shares of Monnet Ispat & Energy for every five stocks of Mounteverest Trading & Investment, it said in a filing to the BSE.

Mounteverest Trading & Investment is also listed on the BSE. The board meeting was held on March 15.

Monnet Ispat shares were down 1 per cent at Rs 438 at around 11 am on the Bombay Stock Exchange.