Indo Rama Synthetics to consider merger
Indo Rama Synthetics to consider merger >A meeting of the equity shareholders of Indo Rama Synthetics India will be held on Oct. 25, 2007 for the purpose of considering and, if thought fit, approving the proposed scheme of amalgamation between the Indo Rama Petrochemicals (IRPL) and the company. As per the scheme, the board has approved the swap ratio of 10:16, so that the shareholders of IRPL for every 10 shares held in IRPL would receive 16 shares in the company.
Shares of the company declined Rs 1.55, or 2.43%, to settle at Rs 62.25. The total volume of shares traded was 10,230 at the BSE.(Friday)
