Taneja Aerospace & Aviation’s board has approved the scheme of arrangement between Taneja Aerospace and Aviation (TAAL) and TAAL Enterprises (TEL, a wholly owned subsidiary of the Company), where the charter business and investments in First Airways Inc. and TAAL Tech India (subsidiaries of the Company) would be demerged into TEL. The appointed date of the scheme was October 01, 2014. The shareholding of TEL post demerger would be the same as TAAL.
The Share Swap Ratio for the demerger is one fully paid equity share of Face Value Rs 10 each of TEL for every eight fully paid equity shares of Rs 5 each held in TAAL. The Scheme would require the approvals of the shareholders of the Company, Madras High Court and other regulatory authorities.
Taneja Aerospace & Aviation is a part of the Pune based Indian Seamless group and was established in 1994 as the first private sector company in the country to manufacture general aviation i.e. non-military aircraft.
Company Name | CMP |
---|---|
Interglobe Aviation | 4608.45 |
SpiceJet | 57.20 |
Global Vectra Helico | 286.95 |
Taneja Aerospace | 437.50 |
TAAL Enterprises | 2884.45 |
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