The Board of Directors of Shree Renuka Sugars Ltd has approved the Scheme of Amalgamation for merger of wholly owned subsidiaries of the Company, viz., Godavari Biofuel Pvt. Ltd and Ratnaprabha Sugars Ltd, with Shree Renuka Sugars Ltd.
The amalgamation apart from creating economies of scale and reducing duplication of administrative, managerial costs and legal and regulatory compliance will facilitate consolidation and unified control of operations. Since both these Companies are wholly owned subsidiaries of Shree Renuka Sugars Ltd, capital structure of the Company will not change post amalgamation and no shares or securities will be issued or cancelled.
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