Consolidated Finvest to merge with Rishi Trading
Consolidated Finvest to merge with Rishi Trading >The board of directors of Consolidated Finvest and Holdings, at its meeting held on Sep.15, 2007, had approved the scheme of amalgamation of Rishi Trading Company, a non banking finance company with the company. As per the proposed scheme, the equity shareholders of Rishi Trading Company will be get 170 equity shares of Rs 10 each for every 100 equity shares of Rs 10 each held by them in the company. The merger will increase the working capital position of the company and will help the company to expand its operations without any additional cost. It will also lead to optimal utilization of the resources of the company.
Shares of the company gained Rs 0.15, or 0.34%, to settle at Rs 44.15. The total volume of shares traded was 9,251 at the BSE.(Monday)
