RSWM to hive off investment unit
RSWM Ltd has said that the committee comprising the board of directors has approved the Scheme of Arrangement under the Companies Act, 1956 for demerger of its strategic investment division into Bhilwara Technical Textiles Ltd. The committee has also approved the exchange ratio of 10 equity shares of the face value of Re 1 each in the resultant company i.e. Bhilwara Technical Textiles for every four shares of Rs 10 each held in the de-merged company i.e. RSWM Ltd. Shares of the company closed at Rs 116, down 2.03 per cent, on the BSE on Wednesday were trading 0.93 per cent up at Rs 119.50 on the BSE. – Our Bureau
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