Receipt of Letter with "No Adverse Observations" from BSE Limited on May 9, 2025 on Scheme of Amalgamation.
ASHIKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
BSE Limited has given its 'no adverse observations' on May 9, 2025, on the proposed amalgamation of Yaduka Financial Services Limited (Transferor Company) into Ashika Credit Capital Limited (Transferee Company). The scheme was first approved by Ashika's board on July 31, 2024 and was filed under Regulation 37 of SEBI LODR read with the SEBI master circular for schemes of arrangement. SEBI also offered comments on the same date, mostly requiring detailed disclosures on shareholding pattern pre and post-merger, rationale, cost-benefit, financials, and pending actions against promoters/directors to be shared with shareholders. BSE's letter is valid for six months, within which the company must file the scheme with the NCLT. The merger still needs shareholder and creditor approvals, and final NCLT sanction.
A positive regulatory milestone — BSE and SEBI have no objections, clearing a key step toward the merger. For shareholders, the proposed amalgamation will increase promoter shareholding post-scheme, so public investors should review the detailed disclosures (swap ratio, financials, rationale) once the shareholder notice is issued before voting.