Asea Brown Boveri (ABB) will issue 9,63,319 new equity shares of Rs 10 each to the shareholders of Introl India, ABB Instrumentation, ABB Lenzohm Service and ABB Analytical, as per the scheme of amalgamation of these group firms with ABB.
The issue of new equity shares will be:
* in respect of every 2 equity shares of face value of Rs 100 each fully paid-up held by him/her/it in Introl India, 13 new equity shares,
* in respect of every 21 equity shares of the face value of Rs 10 each fully paid-up held by him/her/it in ABB Instrumentation, one new equity share,
* in respect of every one equity share of the face value of Rs 100 each fully paid-up held by him/her/it in ABB Lenzohm Service, 19 new equity shares.
* in respect of every 13 equity shares of the face value of Rs 10 each fully-paid up held by it in ABB Analytical, one new equity share.
Post amalgamation, ABB's issued, subscribed and paid-up capital will be around Rs 41.41 crore, on an authorised capital of Rs 50 crore.
At present, the paid-up capital of Introl India stands at Rs 36 lakh, ABB Instrumentation Rs 3.61 crore, ABB Lenzhom Services Rs 1.31 crore and ABB Analytical Rs 4 crore.
The equity shareholders of ABB will meet on September 17 in Mumbai to consider/approve the scheme of amalgamation of Introl India, ABB Instrumentation, ABB Lenzohm Service, ABB Analytical with the company.
The Mumbai high court had earlier directed that a meeting of the equity shareholders of ABB be held in Mumbai on September 17. The amalgamation of the four firms with ABB is expected to improve operational efficiency and bring about synergy between functioning in various related fields.
