• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad, Nov. 9 The board of IVR Prime approved the amalgamation of IVR Strategic Resources & Services Ltd (SRSL) and IVRCL Water Infrastructures Ltd (WIL) with IVR Prime Urban Developers Ltd.

The share swap arrangement among the entities has been prepared by SSPA & CO, chartered accountants, and the fairness opinion was provided by Enam Securities. According to the scheme, the shareholders of SRSL and WIL and IVRCL Infrastructures & Projects will receive 5,94,63,572 fully paid up shares of Rs 10 each in IVR Prime Urban Developers Ltd.

IVRCL holds 100 per cent of the equity share capital of SRSL and WIL. After the merger, the paid-up share capital of the company would increase from 6,41,50,000 fully paid-up shares of Rs 10 each to Rs 12,36,13,572 shares of Rs 10 each.

With this IVRCL holding in IVR Prime would increase from 62.35 per cent to 80.46 per cent and holding of IVRCL promoters in IVR Prime would decrease from 14.66 per cent to 7.61 per cent.

More Stories on : Mergers & Acquisitions | Real Estate & Construction

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line