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Mangalam Cement fixes December 31 as record date for merger of Mangalam Timber Products; Stocks gain over 2%

The purpose of the meeting by the company is to determine the eligible shareholders of Mangalam Timber Products.

December 22, 2021 10:14 IST | India Infoline News Service
Mangalam Cement Limited Scheme Implementation Committee of the Board of Directors approved December 31, 2021, as the Record Date for the purpose of determining the eligible shareholders of Mangalam Timber Products Limited (Transferor Company), who shall be entitled to receive the shares of the Mangalam Cement Limited (Transferee Company), pursuant to and in terms of the Scheme of Amalgamation.

Mangalam Timber Products Ltd had intimated on November 10, 2021, regarding approval of the Scheme of Amalgamation of Mangalam Timber Products with Mangalam Cement.

At around 10.18 am, Mangalam Cement Ltd was trading at Rs365.25 per piece up by Rs8.55 or 2.4% from its previous closing of Rs356.70 per piece on the BSE.

Mangalam Timber Products Ltd was trading at Rs15.10 per piece up by Rs0.3 or 2.03% from its previous closing of Rs14.80 per piece on the BSE.

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