Share swap for proposed acquisition of RLCPL
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Sharp Investment Limited proposes to issue up to 27,51,51,600 equity shares at Rs 1 each to non-promoters through a share swap. The issue will acquire 45,85,860 RLCPL shares, equal to 100 percent of its paid-up capital. Allotment is planned within 15 days after the later of shareholder and stock exchange approvals.
Shareholders may face dilution from the large preferential issue. The deal would give Sharp Investment full ownership of RLCPL, subject to approvals.