Titagarh Wagons gains over 2.5% after fixing October 23 as record date for allotment of shares to Cimmco shareholders

The shareholders of Cimmco shall be entitled to 13 equity shares of Rs2 each fully paid up of the company for every 24 equity shares of Rs10 each fully paid held by them in Cimmco.

Oct 13, 2020 09:10 IST India Infoline News Service

Titagarh Wagons rallies
Titagarh Wagons Limited board of directors has fixed October 23, 2020 as record date for allotment of shares of Titagarh Wagons Limited to the shareholders of Cimmco Limited pursuant to the share exchange ratio as mentioned in the NCLT sanctioned Scheme of Amalgamation.

“We refer to the Order dated September 30, 2020 passed by the Hon’ble National Company Law Tribunal, Kolkata Bench (NCLT), sanctioning the Scheme of Amalgamation of Cimmco Limited and Titagarh Capital Private Limited (TCPL) with Titagarh Wagons Limited.

As per the sanctioned Scheme, the shareholders of Cimmco shall be entitled to 13 equity shares of Rs2 each fully paid up of the company for every 24 equity shares of Rs10 each fully paid held by them in Cimmco whose names appear in the Register of Members on the record date, or to their respective heirs, executors, administrators, or other legal representatives or successor-in-title as the case may be,” company had said.

Titagarh Wagons Ltd is currently trading at Rs45.25 up by Rs1.15 or 2.61% from its previous closing of Rs44.10 on the BSE.

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