NCLT sanctions merger of Whitehills Interior into EFC (I) Limited

Scheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

EFCIL · price

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Price reactionminutes from the announcement price · days from the prior close

-1.6%Reaction day

₹307.00

prior close

₹301.75

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-1.6% vs market

Diversified Commercial Services peers, median of 69sector-0.6%-1.0% vs sector

On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 1.0 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Diversified Commercial Services peers, median of 69Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Mumbai has sanctioned the merger of Whitehills Interior Limited into EFC (I) Limited. EFC will issue 3.77 crore equity shares of Rs 2 each to eligible Whitehills shareholders at a ratio of 385 for 1. Appointed date is 1 April 2023. Whitehills, an unlisted interior design firm in which EFC already holds 51 percent and shares common promoters, will be dissolved without winding up. EFC runs serviced and virtual office businesses.

Likely market impact

Share dilution of about 3.77 crore new shares. Combined entity targets cost savings and synergies across interior design and office space businesses.