NSE clears Digjam-RTIL scheme of arrangement, public stake to fall to 5.48%
DIGJAMLMTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.6 pts more than Nifty Microcap 250 and 5.1 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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NSE has given no objection to the Scheme of Arrangement between Reid and Taylor International Private Limited (RTIL) and Digjam. Under the demerger, RTIL merges into Digjam with shares allotted to RTIL shareholders. Public shareholders of Digjam will see their stake drop from 25% to 5.48%. Digjam can now file the scheme with NCLT within 6 months and must share detailed disclosures on valuation, shareholding pattern, rationale, and risks before seeking shareholder approval.
Major regulatory hurdle cleared. Public stake dilution from 25% to 5.48%. Next steps are NCLT filing and shareholder vote.