Talwalkars Lifestyles get going

Talwalkars Lifestyles, which goes with the Security Id of Talwgym is the new listing on the BSE today. This is once again not an IPO listing but through a scheme of arrangement.

The stock price got listed at Rs.145, which is its current high point to soon slip down to Rs.137 levels.

According to the scheme of arrangement, Talwalkars Better Value Fitness (TBVFL) was demerged company and Talwalkar Lifestyles was the resulting company. To retain the brand value of TBVFL synonymous with gym, the name was swapped in such a way that the gym company, i.e resultant company,  regains the name of TBVFL, and the lifestyle company was named TLL.

Shareholders of TBVFL got an equal number of shares in TLL, i.e, in the ratio of 1:1.