Bikaji Foods International Limited has informed the Exchange about Amalgamation/Merger - Certified True copy of Order approving Scheme of Amalgamation
BIKAJI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bikaji Foods International Limited has received approval from the NCLT Jaipur Bench for the merger of its wholly-owned subsidiary Vindhyawasini Sales Private Limited (VSPL) into itself. Since VSPL is entirely held by Bikaji, no new shares will be issued and the entire share capital of VSPL will stand cancelled upon the scheme becoming effective. The appointed date is April 1, 2024, and VSPL will be dissolved without winding up once the order is filed with the Registrar of Companies. Bikaji will absorb all assets, liabilities, contracts, licenses, and pending tax matters of VSPL, including an outstanding tax demand of Rs. 63.14 lakh for Assessment Year 2018-19 along with related penalty proceedings.
This is a purely structural simplification with no impact on shareholding pattern or stock price, as no new shares are being issued or cash changing hands. Shareholders should not expect any dilution, special dividend, or corporate action arising from this merger.