Intimation of effective date, record date and other related information wrt the Composite Scheme of Amalgamation
ASHIKA · price
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Ashika Credit Capital Ltd (ACCL) has completed a composite scheme of amalgamation effective May 15, 2026, with an appointed date of April 1, 2025. The scheme involves two-step consolidation: first, Ashika Commodities & Derivatives Private Limited (ACDPL) amalgamates into Ashika Global Securities Private Limited (AGSPL), and then AGSPL amalgamates into ACCL. ACCL will issue 4,03,52,586 new equity shares (face value Rs 10) to AGSPL shareholders at a share exchange ratio of 6,726 shares for every 10,000 shares held. Record date is May 27, 2026. Cross-holdings of 1,13,51,990 shares (25.38%) held by AGSPL and ACDPL in ACCL have been cancelled. The company's name will change to Ashika Global Securities Limited pending MCA approval. Several subsidiaries including Ashika Stock Services Ltd, Ashika Investment Managers Pvt Ltd, and others from AGSPL now become subsidiaries of ACCL, expanding its business footprint.
The amalgamation consolidates the Ashika group entities under the listed ACCL platform, potentially increasing the company's scale and diversification. The dilution from new share issuance and cancellation of cross-holdings will alter the shareholding structure, which shareholders should monitor closely.