Disclosure U/R 3o of SEBI LODR Reg.2015 - Update on Scheme of Amalgamation
Awaiting price reaction for this filing.
Narbada Gems and Jewellery Limited has filed the First Motion Application with the NCLT Hyderabad Bench on 29 April 2025 for its proposed Scheme of Amalgamation with Uday Jewellery Industries Limited. The scheme was first approved by the Board of Directors on 16 September 2024, and BSE issued its observation letter on 20 March 2025. The filing marks the next formal step in the legal process toward merging the two jewellery companies. The exchange ratio or share-swap details have not been disclosed in this update.
Progressing to the NCLT stage is a positive procedural step, but the amalgamation is still subject to shareholder, creditor, and tribunal approvals before it becomes effective. Investors should watch for the swap ratio, fairness opinion, and any open offer implications in upcoming filings.