Indo Amines Limited — Important, 19-12-2024: General Updates

The Board of Directors of Indo Amines Limited has approved the allotment of 18,90,000 equity shares with a face value of Rs. 5 each to the shareholders of Pious Engineering Private Limited, following the sanctioned Scheme of Amalgamation by the National Company Law Tribunal, Mumbai. Promoters Vijay and Bharati Palkar will each receive 9,45,000 shares. As a result of this allotment, the company's paid-up share capital has increased to 7,25,87,560 equity shares, totaling Rs. 36,29,37,800. The company is in the process of applying to stock exchanges for the listing and trading approval of the newly allotted shares, marking a significant step in its growth strategy. Investors should monitor the further developments regarding the integration of Pious Engineering and the potential benefits of this amalgamation for Indo Amines.