*Demerger*
*NMDC Limited*
The Board of Directors of NMDC Limited, at its meeting held today, July 13, 2021, has approved the Scheme of Arrangement for Demerger between NMDC Limited ('Demerged Company') and NMDC Steel Limited ('Resulting Company') and their respective shareholders, pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (hereinafter referred to as the 'Scheme').
The said Scheme is subject to necessary statutory and regulatory approvals including the approval of the Securities and Exchange Board of India ('SEBI'), Stock Exchanges, Ministry of Corporate Affairs, Government of India and respective shareholders and creditors, if any, of each of the companies involved in the Scheme.
Ratio: 1 (one) fully paid-up equity share, of face value Rs. 1/- (Rupees Two only) each in NMDC Steel Limited for every 1 (one) fully paid up equity share(s) of face value Rs. 1/-(Rupees Two only) each of the Company.
CMP = Rs.172.05
MCAP = Rs. 13,30,997.78 crore
https://www.bseindia.com/xml-data/corpfiling/AttachLive/4f3d4bb6-aa3d-4a56-a573-1db31115503b.pdf
By: via @AlliesFin Serve Stock Market
