Minda Industries allots shares to newly acquired JV Harita Seating Systems

The company has allotted 39,69,737 equity shares of Rs2 each to JVC. It also allotted 59,27,084 (0.01%) Non-Convertible Redeemable Preference Shares of the face value of Rs100 each.

Jun 22, 2021 11:06 IST India Infoline News Service

Minda Industries
Minda Industries Ltd. has allotted 39,69,737 equity shares of Rs2 each to the eligible shareholders of Harita Seating Systems Limited. It also allotted 59,27,084 (0.01%) Non-Convertible Redeemable Preference Shares of the face value of Rs100 each at a premium of Rs21.25 per shares to the eligible shareholders of Harita Seating Systems Limited, as per the option selected by them.

Further, as per the scheme, the fractional entitlement has been allotted to the Trustee. The trustee shall sell/redeem the fractional shares and remit the amount to respective shareholders towards their fractional entitlement.

The allotment was after the Composite Scheme of Amalgamation, amongst Harita Limited (Transferor Company 1), Harita Venu Private Limited (Transferor Company 2), Harita Cheema Private Limited (Transferor Company 3), Harita Financial Services Limited (Transferor Company 4) and Harita Seating Systems Limited (Transferor Company 5) with Minda Industries Limited (Transferee Company), as approved by the National Company Law Tribunal (NCLT) Delhi, having jurisdiction on Minda Industries Limited, vide its order dated February 1, 2021 and the NCLT Chennai, having jurisdiction on Harita Seating Systems Limited and its Promoters companies vide its order dated February 23, 2021.

At around 11.38 am, Minda Industries Ltd was trading at Rs650 per piece down by Rs3.85 or 0.59% from its previous closing of Rs653.85 per piece on the BSE.

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