Gabriel India Shareholding Changes Post Scheme of Arrangement
Gabriel India Limited has announced a change in its promoter and promoter group shareholding following a Composite Scheme of Arrangement. The scheme involved the amalgamation of Anchemco India Private Limited with Asia Investments Private Limited and the demerger of Asia Investments Private Limited's automotive undertaking into Gabriel India Limited. As a result of equity shares issued by Gabriel India to the shareholders of the demerged company, the promoter shareholding has increased from 55.03% to 63.55%. This transaction triggers disclosure requirements under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
Key Highlights
- Gabriel India's promoter shareholding increased from 55.03% to 63.55%.
- Change is due to a Composite Scheme of Arrangement sanctioned by NCLT.
- Scheme involved amalgamation and demerger of undertakings.
- Equity shares were issued as consideration for the scheme.
- Disclosure filed under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
Price Impact
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