BSE and NSE clear composite scheme of arrangement for NCLT filing

Nclt Scheme FiledCore Business DivestedStrategic Transactions View source PDF

ARIHANTCAP · price

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▲ 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

-0.1%1-day move

₹69.24

prior close

₹69.33

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+0.7———-0.1-0.5+2.7+8.0+3.9+8.1+13.7———

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AI summary

Arihant Capital Markets (ACML) has received no-objection letters from BSE and NSE on June 25, 2026 for its Composite Scheme of Arrangement involving group companies AFSL, ACML, AEFSL, AIBSL, and AMMWML. The scheme includes amalgamation of AFSL into ACML, demerger of Distribution, Merchant Banking, and NBFC businesses from ACML into the newly formed AEFSL, and further transfers from AEFSL to AIBSL and AMMWML. Shares of AEFSL will be listed within 60 days of NCLT order. The scheme now moves to NCLT for approval; observation letter is valid for 6 months.

Likely market impact

Major group restructuring on the way; shareholders should watch for NCLT filing, swap ratio disclosure, and eventual listing of new entity AEFSL.