Please tell me the merging of ispat metallic india limited and kalyani mukund limited.?

Question

Please tell me the merging of ispat metallic india limited and kalyani mukund limited.?

Answer 1

Ispat acquires Kalyani Mukund in 1999

Calcutta: Ispat Industries has concluded an agreement with Kalyani Mukund for acquiring the entire share capital of the company. The purpose of the acquisition: Kalyani Mukund has a 0.75 standard cubic meter per day allocation of gas, which  Ispat will have access to after the acquisition.

Ispat has paid a small part, Rs 12 lakh, of the total consideration to Kalyani Mukund, and has offered a corporate guarantee for Rs 26 crore to its shareholders. The total consideration for acquiring the 4,80,000 equity shares of Kalyani Mukund, constituting 24 per cent of its paid-up share capital, will be Rs 6.66 crore.