The Board of Directors of the Company, at its meeting held today i.e. on March 27, 2026, has approved the proposed Scheme of Amalgamation of EMA India Limited ("Transferor Company") with ....
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On March 27, 2026, EMA India's board approved a Scheme of Amalgamation to merge the company into Dynalog India Limited under Sections 230-232 of the Companies Act, 2013. EMA India (Transferor) has assets of Rs.590.76 lakhs but nil turnover, while Dynalog India (Transferee) has assets of Rs.9,954.27 lakhs and turnover of Rs.8,582.44 lakhs, primarily in defence electronics. The transaction is a related-party deal — Dynalog and its promoters already control 45.03% of EMA India. The share exchange ratio is 28 equity shares of Dynalog (face value Rs.10) for every 25 equity shares of EMA India. The scheme is subject to NCLT approval and BSE no-objection, and EMA India will be dissolved without winding up, with Dynalog applying to list its shares on BSE in compliance with SCRR Rule 19(2)(b).
Existing EMA shareholders will become shareholders of a larger, listed entity (Dynalog) with a combined net worth of around Rs.51.45 crore and exposure to defence electronics, while their current machine-manufacturing listed entity ceases to exist. The deal is friendly and promoter-driven, but minority shareholders should watch the swap ratio and NCLT process closely before approving.