The board of SB&T International, at its meeting on Dec. 17, decided to cancel the amalgamation of Mimansa Jewellery with the company.
Instead, the company will takeover the business and brand of Mimansa Jewellery with the issue of 5 lakh equity shares to the shareholders of Mimansa Jewellery in proportion of shares held by them.
The board also decided to issue 1.8 million equity share warrants on preferential basis to investors at a price of Rs 40.00.
Shares of SB&T International Ltd. were last trading down Rs 2.3, or 4.94% at Rs 44.3. The total volume of shares traded at the BSE was 7,260 (Tuesday, 12.38 p.m.).
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