Intimation of Order passed by the Hon''ble NCLT, Mumbai Bench for approving scheme of Merger of Promoter Companies of CIAN.
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The NCLT Mumbai Bench has approved the merger of five promoter companies of CIAN — Avinash Fuels, Purti Marketing, Greenedge Constructions, Nagpur Sugars, and Purti Contract Farming — into Chaitanya Constructions and Builders Pvt Ltd (CCBPL). These five companies together hold 66.88% of CIAN, and after the merger, CCBPL will replace them as the sole promoter entity. The order was pronounced on 7 May 2025, with appointed dates of 30 September 2024 and 1 October 2024. There is no change in CIAN's paid-up capital or public shareholding pattern, though CIAN will technically become a subsidiary of CCBPL. The acquisition is exempt from open offer obligations under Regulation 10(1) of SEBI Takeover Regulations.
This is an internal promoter-group consolidation with no change in CIAN's capital structure or minority shareholders' holdings, so the stock price should not be materially affected. Investors should note that control has now consolidated under a single promoter entity (CCBPL), but with no incremental acquisition beyond what already existed.