Monnet Ispat today said its board has approved the merger of Mounteverest Trading & Investment Ltd with itself.
The swap ratio for the proposed merger shall be two shares of Monnet Ispat & Energy for every five stocks of Mounteverest Trading & Investment, it said in a filing to the BSE.
Mounteverest Trading & Investment is also listed on the BSE. The board meeting was held on March 15.
Monnet Ispat shares were down 1 per cent at Rs 438 at around 11 am on the Bombay Stock Exchange.
