Blue Star has informed the exchanges that its board of directors on Friday approved provision of dividend at ₹6.50 a share for 53,91,383 equity shares to be issued to the shareholders of Blue Star lnfotech (BSIL) post-completion of amalgamation in accordance with the swap ratio. According to a composite scheme of amalgamation between BSIL and Blue Star lnfotech Business Intelligence & Analytics Pvt Ltd and the company, shareholders of BSIL as on record date will receive seven equity shares of Blue Star of face value ₹2 each for 10 shares of face value ₹10 each held in BSIL. The amalgamation proposal has been admitted by the High Court of Judicature at Bombay on March 4 and the petition has been fixed for hearing on April 15. Shares of Blue Star gained 0.96 per cent at ₹331.80 on the NSE while those of BSIL closed up 1.7 per cent at ₹217.25.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.