Withdrawal of Scheme of Amalgamatiom amongst Future Market Networks Limited and others
FMNL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Future Market Networks Limited has announced the withdrawal of a scheme of amalgamation involving the company, Metawear Limited, and their respective shareholders. Metawear Limited's Board of Directors decided not to proceed with the scheme and resolved to withdraw it. Future Market Networks' Board took note of this decision at its meeting held on 19 May 2026. An application for withdrawal of the scheme will be filed with the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. This follows an earlier disclosure dated 10 February 2025 regarding the proposed scheme.
The failed amalgamation is negative for the company as it loses the potential synergies and consolidation benefits originally intended from combining operations with Metawear Limited. Shareholders may face uncertainty regarding the company's standalone growth path without this strategic consolidation.