Ultratech Cement Ltd has informed BSE that August 25, 2010 has been fixed as the record date for the purpose of determining the equity shareholders of Samruddhi Cement to whom equity shares of Ultratech Cement will be allotted.
These shareholders of Samruddhi will be entitled to receive 4 equity shares of the Ultratech Cement of Rs 10 each fully paid up for every 7 equity shares of Rs 5 each fully paid up held in Samruddhi.
The board of directors of the two companies, in November 2009, considered and proposed the amalgamation of Samruddhi with UltraTech.