Arshiya board fixes March 4 as record date for demerger

22 Feb 2022 , 01:29 PM

The Board of Directors of Arshiya Limited at their meeting held today i.e on February 21, 2022 has fixed Friday, March 04, 2022 (close of the business hours) as the Record Date for the purpose of determining the shareholders of the company to whom the fully paid-up equity shares of ARIL is proposed to be issue and allot for every 2 fully paid up equity shares of the Demerged Company, 1 fully paid up equity share of Rs2 each of the Resulting Company.

Further pursuant to the Scheme of Arrangement, the accounts of ARIL shall not be consolidated with Arshiya and shall proceed further necessary actions for mirror listing on both the Stock Exchanges i.e. National Stock Exchange of India Limited and BSE Limited, said Company in a regulatory  filing.

At around 1:31 PM, Arshiya was trading at Rs34.90 apiece down by Rs2.9 or 7.67% from its previous closing of Rs37.80 apiece on the BSE.