Intimation for Approval of Scheme of Arrangement
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eyantra Ventures Ltd's Board has approved a Scheme of Arrangement for amalgamation of Prismberry Technologies Private Limited (wholly owned subsidiary/transferor) into Eyantra Ventures Limited (transferee/holding company). The scheme is under Sections 230-232 of the Companies Act, 2013 and subject to NCLT, shareholder, and creditor approvals. No new shares will be issued and no cash consideration will be paid — the subsidiary's entire share capital will be cancelled and extinguished. Shareholding pattern of Eyantra Ventures will remain unchanged as no consideration is being issued. The rationale includes cost reduction, operational synergies, simplification of group structure, and elimination of duplication in software solutions business.
This is an internal restructuring of a wholly-owned subsidiary, unlikely to have immediate material impact on Eyantra Ventures' stock price or shareholder value, as no new shares are issued and the shareholding pattern remains unchanged.