BF Utilities, a division of Kalyani Group, today said it will merge six group firms, including Kalyani Utilities Development, Forge Investment and Mundhwa Investment, with itself.
The company board has approved the amalgamation of six firms with the company, BF Utilities said in a filing to the Bombay Stock Exchange (BSE).
Under the scheme, the six firms -- Bhalchandra Investment, Forge Investment, Mundhwa Investment, Jalakumbhi Investment and Finance, Kalyani Utilities Development and Jalakamal Investment and Finance will merge with the company.
Besides, the company's board also approved the demerger of its one unit -- BF Investment from itself.
Shares of BF Utilities today closed at Rs 887.10, up 4.30 per cent from its previous close on the BSE.
