Arihant Capital Markets Limited has informed the Exchange about Scheme of Arrangement
ARIHANTCAP · price
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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.5 pts less than its Stockbroking & Allied peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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On August 26, 2025, the board of Arihant Capital Markets Limited (ACML) approved a Composite Scheme of Arrangement to reorganize the group into two separate listed entities. The scheme involves (a) amalgamation of Arihant Financial Services Limited (AFSL, a wholly-owned NBFC subsidiary) into ACML with no share issuance, and (b) demerger of all non-broking businesses (NBFC, merchant banking, and distribution) from ACML into a newly formed company, Arihant Elite Financial Solutions Limited (AEFSL). Shareholders of ACML will receive 1 equity share of AEFSL for every 1 share held (1:1 ratio), and AEFSL will seek listing on BSE and NSE. Post-scheme, merchant banking business will be transferred to AIBSL for Rs. 5.98 crore and distribution business to AMMWML for Rs. 0.57 crore via slump sale. The scheme is subject to NCLT, SEBI, RBI, shareholder, and creditor approvals.
Existing shareholders will end up holding shares in two listed companies — ACML (focused on retail broking) and AEFSL (NBFC plus merchant banking and distribution subsidiaries) — enabling cleaner valuation and sector-specific investment choice, with no dilution in ACML. The stock could see short-term movement on approval progress; long-term impact depends on how the markets value the split entities.