October 11, 2008

OCL India Limited to merge with Dalmia Cement

It is reported that OCL India Limited has decided to go ahead and demerge two of their businesses namely steel and realty business with Dalmia Cement Mehalaya Limited.

Every shareholder, who had their holding in OCL India, would get 3 additional shares of the real estate division, 3 shares of their steel business and for every 100 shares of Dalmia Cement Mehalaya Limited, shareholders will get about 61 shares of OCL India.

The delivery is going to be after the March 5th 2008, which is set as a record date for these two demerged entities. March 6th 2008 is set as record date for the cement division.