Announced Fri, 18 Sept · 20:02 IST
ACME Solar board approves merger of 3 wholly-owned subsidiaries
ACMESOLAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹438.15
prior close
₹439.00
base price
After-mkt
timing
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+3.1+3.1+3.6+4.0——————————
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AI summary
ACME Solar's board approved merging three wholly-owned subsidiaries (ACME Pokhran Solar, ACME Sikar Solar, ACME Eco Clean Energy) into itself. The subsidiaries operate 50 MW wind, 300 MW solar, and 100 MW wind projects respectively. No cash or share consideration since these are wholly owned, and no change in ACME Solar's shareholding pattern. Scheme filed under Sections 230-232 of Companies Act, 2013, pending NCLT and other approvals.
Likely market impact
Simplifies group structure and cuts compliance costs. No change in shares or ownership for existing shareholders.