Business Update11 May 2026, 07:01 pm
Paradeep Phosphates Distributes ₹25.9 Lakh from Fractional Shares
AI Summary
Paradeep Phosphates Ltd. has distributed ₹25.9 Lakh to eligible shareholders of Mangalore Chemicals & Fertilizers Limited from the sale of fractional shares, as per the Composite Scheme of Arrangement. The distribution, completed on May 8, 2026, follows SEBI guidelines and was certified by the Audit Committee and Independent Directors. A total of 23,217 fractional shares were sold, with net proceeds distributed after deducting expenses and TDS.
Key Highlights
- Paradeep Phosphates distributed proceeds from fractional shares totaling ₹25.9 Lakh.
- The distribution was made to eligible shareholders of Mangalore Chemicals & Fertilizers Ltd.
- The Audit Committee certified the distribution in compliance with SEBI guidelines.
- 23,217 fractional shares were sold in the open market.
- The distribution was completed on May 8, 2026, after deducting expenses and TDS.
Price Impact
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