Edition:
United Kingdom

SORIL Infra Resources Approves Scheme To Streamline Operations And Ownership Structure


Tuesday, 29 Jan 2019 

Jan 29 (Reuters) - SORIL Infra Resources Ltd ::APPROVED SCHEME BETWEEN CO, INDIABULLS INTEGRATED SERVICES AND THEIR UNITS AND INDIABULLS PHARMACEUTICALS.SCHEME AIMS TO STREAMLINE OPERATIONS AND OWNERSHIP STRUCTURE.PUBLIC SHAREHOLDERS OF COMPANY WILL ALSO GET DIRECT OWNERSHIP IN LIFE AND NON-LIFE INSURANCE BUSINESSES.DEAL TO MERGE CO, ITS UNIT AND CERTAIN OTHER UNITS OF INDIABULLS INTEGRATED SERVICES INTO INDIABULLS INTEGRATED SERVICES.INDIABULLS INTEGRATED SERVICES TO ISSUE SHARES TO CO'S SHAREHOLDERS IN SWAP RATIO OF 1 SHARE OF IBULISL FOR 1 SHARE HELD IN CO.DEAL ALSO TO DEMERGE NON-INSURANCE BUSINESSES OF MERGED IBULISL INTO INDIABULLS ENTERPRISES LTD.EQUITY SHARES OF INDIABULLS ENTERPRISES LTD WILL BE LISTED ON NSE & BSE.DEAL TO ALSO DEMERGE ON-GOING PHARMACEUTICAL BUSINESS UNDERTAKING OF INDIABULLS PHARMACEUTICALS INTO INDIABULLS PHARMACARE. 

Company Quote

335.5
1.25 +0.37%
11:23am BST