Share capital of Bhagyanagar India reduces without effecting promoter holding
Bhagyanagar India announced that on effectiveness of the scheme of arrangement, the existing shareholders of Bhagyanagar India for every 6 (six) equity shares will continue to hold 3 (three) equity shares of Rs. 2/- each of Bhagyanagar India and will get 4 (four) equity shares of Re. 1/- each of Surana Telecom and Power and 3 (three) equity shares of Rs. 2/- each of Bhagyanagar Properties.As part of the scheme of arrangement, the existing paid up share capital of Bhagyanagar India is proposed to be reduced to 50% of 6,39,90,000 equity shares of Rs. 2/- each (i.e., 3,19,95,000 equity shares of Rs. 2/- each), without affecting overall holding levels of Promoters and Public.
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