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Shares of Greenply Industries has locked in lower circuit, down 14% to Rs 948 on BSE after the stock turned ex-demerger today.
The stock opened at Rs 998 and has seen a combined 724 shares changing hands on the counter till 1019 hours. There are pending sell orders for 10,823 shares on BSE and NSE.
In a filing to the BSE, Greenply Industries had last week said that the company has fixed record date as 27 November 2014 for the purpose of determining the list of shareholders who are entitled to receive the shares in Greenlam Industries, the resulting company after the demerger.
Greenply Industries had earlier announced the demerger of the decorative business (comprising of laminates and allied products) of the company with all its assets and liabilities into Greenlam Industries.
The equity shareholders of Greenply Industries shall receive one equity share of Greenlam Industries Limited for every equity share held in Greenply Industries on the Record Date. As part of the Scheme, Greenlam shall also seek listing on the Stock Exchange(s).
The stock opened at Rs 998 and has seen a combined 724 shares changing hands on the counter till 1019 hours. There are pending sell orders for 10,823 shares on BSE and NSE.
In a filing to the BSE, Greenply Industries had last week said that the company has fixed record date as 27 November 2014 for the purpose of determining the list of shareholders who are entitled to receive the shares in Greenlam Industries, the resulting company after the demerger.
Greenply Industries had earlier announced the demerger of the decorative business (comprising of laminates and allied products) of the company with all its assets and liabilities into Greenlam Industries.
The equity shareholders of Greenply Industries shall receive one equity share of Greenlam Industries Limited for every equity share held in Greenply Industries on the Record Date. As part of the Scheme, Greenlam shall also seek listing on the Stock Exchange(s).
