Announced Wed, 29 Jul · 19:23 IST
EFC (I) withdraws proposed demerger scheme of subsidiary
EFCIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.0%1-day move
₹200.43
prior close
₹198.01
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.8-1.6-2.4-3.4-3.0-3.7-4.7-5.0-5.2-8.7-5.7———
Up moveDown movePending
AI summary
EFC (I) Limited has withdrawn the proposed Scheme of Arrangement for Demerger of its material wholly owned subsidiary EFC Limited into three step-down subsidiaries. The scheme was to use the Fast Track Merger route under Section 233 of the Companies Act, 2013. Boards cited legal, regulatory, operational and business considerations for the withdrawal. Application will be filed with the Regional Director, Mumbai.
Likely market impact
Planned demerger and restructuring is now off. Business structure stays unchanged, removing expectations tied to the scheme.