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Ratio for Visaka, India Cements merger fixed at 1:5

CHENNAI: The merger ratio for the amalgamation of Visaka Cement Industry Ltd. (VCIL) with India Cements Ltd. (ICL) has been fixed at 1:5. Following the board's decision, one equity share of Rs. 10 of ICL will be issued to shareholders of VCIL for every five equity shares of Rs.10 each they held in VCIL. The merger will take retrospective effect from July 1, 2006.

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