Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we wish to inform you that the Board of Directors of the Company, ....
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The Board of Directors of Dhruva Capital Services Limited has decided to cancel/withdraw the Scheme of Amalgamation and Arrangement with Vector Finance Private Limited. The scheme was originally approved by the Board on September 12, 2025. The company cited two main reasons for withdrawal: (1) pending approval from BSE on the listing application, and (2) change in the valuation of the company since the relevant date of the scheme. The meeting was held on April 8, 2026, and the company will not be proceeding further with the amalgamation process.
The cancellation of this amalgamation deal means shareholders will not receive any potential benefits from the merger. The stock may see neutral to negative reaction as market participants had likely factored in some synergies from the proposed combination.