Pennar Industries announced that it has received approval from National Company Law Tribunal (NCLT) to merge its subsidiaries Pennar Engineered Building Systems (PEBS Pennar) and Pennar Enviro (PEL) with itself.
As per the approved scheme, shareholders of PEBS Pennar will get 23 shares of Pennar Industries for 13 shares held and shareholders of Pennar Enviro will get one share of Pennar Industries for every one share held.
The NCLT approval has approved the appointed date of the scheme (effective date) to be 01 April 2018.
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