Taneja Aerospace zooms on getting nod for scheme of arrangement

09 Oct 2014 Evaluate

Taneja Aerospace & Aviation is currently trading at Rs. 56.00, up by 3.75 points or 7.18% from its previous closing of Rs. 52.25 on the BSE.

The scrip opened at Rs. 57.40 and has touched a high and low of Rs. 61.50 and Rs. 52.00 respectively. So far 271980 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 61.50 on 09-Oct-2014 and a 52 week low of Rs. 16.65 on 19-Dec-2013.

Last one week high and low of the scrip stood at Rs. 61.50 and Rs. 39.75 respectively. The current market cap of the company is Rs. 148.21 crore.

The promoters holding in the company stood at 51.07% while Institutions and Non-Institutions held 5.64% and 40.97% respectively.

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.

Taneja Aerospace Share Price

437.50 2.90 (0.67%)
24-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Interglobe Aviation 4608.45
SpiceJet 57.20
Global Vectra Helico 286.95
Taneja Aerospace 437.50
TAAL Enterprises 2884.45
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.