Indo Rama Synthetics and Indo Rama Petrochemicals to amalgamate?

Amalgamation is being considered between Indo Rama Synthetics and Indo Rama Petrochemicals. A meeting of the equity shareholders of Indo Rama Synthetics India will be held on Oct. 25, 2007 for the purpose of considering and, if thought fit, approving the proposed scheme of amalgamation between the Indo Rama Petrochemicals (IRPL) and the company. As per the scheme, the board has approved the swap ratio of 10:16, so that the shareholders of IRPL for every 10 shares held in IRPL would receive 16 shares in the company.