Under scheme of amalgamation
Rishiroop announced that the Securities Issue Committee of the Board of Directors of the Company has in the meeting held on 12 January 2017 approved allotment of 14,02,280 equity shares of Rs. 10/- each of the Company to holders of Optionally Convertible Preference Shares (OCPS) who exercised their option to convert their OCPS holding to equity shares as per the terms of the Scheme of Amalgamation ('Scheme') sanctioned by the Hon'ble High Court of Judicature at Bombay vide its order dated 08 May 2015, and Hon'ble High Court of Gujarat at Ahmedabad vide its order dated 23 June 2015.As per the terms of the aforesaid Scheme, shares allotted shall rank pari-passu with the existing equity shares of the Company in all respects, and shall be subject to the provisions of the Memorandum and Articles of Association of the Company.
Consequent to the above allotment, the equity share capital of the Company stands increased to 90,40,522 equity shares of Rs. 10/- each, aggregating to Rs. 9,04,05,220/-.
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