Outcome of Board Meeting for approval of Scheme of Amalgamation with its Subsidiaries

CIAN Agro Industries board has approved a Scheme of Amalgamation to merge 6 subsidiaries (VAPL, SOSMPL, VECPL, MPVPL, AEIPL, MAIIL) into the listed parent company. Five subsidiaries are wholly-owned and will be merged without any share consideration. Only AEIPL and MAIIL have external shareholders who will receive shares: MAIIL equity shareholders get 30 CIAN shares for every 100 MAIIL shares held, and preference shareholders receive new preference shares. MAIIL is a significant subsidiary with revenue of Rs. 9,434 Lakhs and net worth of Rs. 5,785 Lakhs. The scheme requires NCLT approval, stock exchange clearance, and shareholder/creditor consent. Post-merger, promoter holding will marginally dilute from 67.61% to 67.40% due to new share issuance.