You are right as i found old news regarding Ashok Todi’s case
old interview
in july 2018 on merger of two companies
The Lux Industries board has approved the transaction last week and the promoters will get fresh 48.43 lakh shares of Lux Industries.
The stock price had soared to Rs 1910.90 at BSE on the last trading day of the week against a price of Rs 1779 a share used for valuation purpose for the merger. This results in an notional gain of around Rs 55 crore for the promoters.
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