India: Binani Ind cancels share swap with Binani Cement, Zinc

India: Binani Ind cancels share swap with Binani Cement, Zinc
Published: 18 November 2008

Binani Industries Ltd said on Tuesday its board had decided to recall a plan to swap its shares with Binani Zinc Ltd and Binani Cement Ltd, due to a change in valuation of the cement unit.

The installed capacity of Binani Cement has risen to up to 6Mta from 2.2Mta at the time of the filing of the scheme in 1995, the company said in a statement.