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BIFR clears GACL, ACRL merger

By Our Corporate Reporter

CHENNAI, JUNE 5. The proposal of Gujarat Ambuja Cements (GACL) to merge Ambuja Cement Rajasthan Limited (ACRL) with it, received the approval of the Board for Industrial and Financial Reconstruction (BIFR). As per the said approval one new equity share of GACL will be issued for every 50 equity shares of ACRL and the effective date of the merger will be June 1. The management control of ACRL was acquired by GACL in March 2000.The current share capital of ACRL is Rs. 261.29.

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