Grindwell Norton plans to merge three group companies

May 15, 2013 10:11 am

Grindwell Norton plans to amalgamate the three group companies-Saint-Gobain Sekurit India (SGSIL), Saint-Gobain Crystals and Detectors India (SGCD) and SEPR Refractories (SEPR), collectively called transferor companies, with itself. The merger ratio will be one equity share of Rs.5 each of the company for every 17 shares of Rs.10 each of SGSIL. For other two group companies, the swap ratio will be 100 shares of Rs.5 each of the company for every 50 shares of Rs.10 each of SGCD and for every 38 equity shares of Rs.10 each of SEPR, respectively.