Company news: Archidply Industries

The Board of Directors of Archidply Industries has proposed to fix the record date of Friday, February 14, 2020, for the purpose of deciding the names of the equity shareholders of Archidply Industries (AIL), the demerged company, who shall be entitled to receive shares of Archidply Décor, the resulting company (ADL), in the ratio of one new equity share of the resulting company (ADL) of face value ₹10 each fully paid-up for every four equity shares of face value ₹10 each fully paid-up held by him/her/it in the demerged company (AIL), pursuant to the Order dated January 8, 2020 of the National Company Law Tribunal, Allahabad Bench, sanctioning the Scheme of Arrangement for demerger. The stock of Archidply Industries closed at ₹30.25 on the BSE, up 0.83 per cent from its previous close.