Bilpower announced that the board of directors considered and approved the scheme of arrangement for demerger of manufacturing unit at Wada of Bilpower Ltd. into Bil Energy Systems Ltd., a wholly owned subsidiary company of Bilpower Ltd.
Bil Energy Systems Ltd. shall allot and issue 1 equity share of the face value of Rs10/- each as fully paid-up to all the shareholders of Bilpower Ltd.
Shares of Bilpower have advanced by 3% to Rs192. The scrip opened at Rs188 it touched an intra-day high of Rs193 and a low of Rs187 and has recorded volumes of over 0.1mn shares on NSE.