India Cements Board approves Visaka merger

India Cements Board approves Visaka merger
Published: 01 March 2007

India Cements today said its Board of Directors has decided to merge Visaka Cement Industry, an associate company with itself and has also approved a scheme of amalgamation wherein one equity share would be issued to the shareholders of VCIL for every five equity shares held by them in VCIL. Consequent to the scheme after having received sanction of appropriate authorities, the subscribed and paid-up equity share capital of the India Cements would increase to Rs 260.37 crore, from Rs 220.37 crore, India Cements informed the BSE.