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Hindustan Foods allots 49.27 lakh equity shares under scheme of arrangement

Capital Market 

Also allots 27.77 lakh equity shares on conversion of warrants

Pursuant to the scheme of arrangement of Avalon Cosmetics (Demerged Company) with Hindustan Foods (Resulting Company) becoming effective on 27 December 2019, the Board of Hindustan Foods has on 16 January 2020 allotted 49,27,799 Equity Shares of Rs. 10/- per share to the shareholders of Avalon Cosmetics, in the ratio of 42.15 fully paid-up Equity Share of Rs. 10/- each of the Company for every 1 (One) fully paid-up Equity Share held in Avalon Cosmetics.

Further, the Board has allotted 27,77,779 Equity Shares of Rs. 10 each at a premium of Rs. 350 per Share on conversion of warrants.

Consequently. w.e.f. from 16 January 2020, the issued, Subscribed and Paid up Equity Share Capital of the Company stands increased to Rs. 21,19,80,0780 consisting of 2,11,98,078 Equity Shares of Rs. 10 each.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 16 2020. 14:21 IST
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