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Awaiting price reaction for this filing.
On May 30, 2025, the Board of Ganesha Ecoverse Limited (formerly SVP Housing Limited), listed on the BSE SME platform, gave in-principle approval to merge its associate company GESL Spinners Private Limited (GSPL) into itself under Sections 230-232 of the Companies Act, 2013. Ganesha Ecoverse's paid-up capital stands at Rs. 2459.46 Lakh with revenue of Rs. 718.21 Lakh (FY25 audited), while GSPL is significantly larger with paid-up capital of Rs. 6161.25 Lakh and revenue of Rs. 5503.20 Lakh (FY25 unaudited). The merger is classified as a related party transaction to be carried out at arm's length. The share exchange ratio and any resulting change in shareholding pattern are yet to be determined, pending completion of valuation.
Since GSPL is roughly 2.5 times larger in capital and over 7 times larger in revenue than Ganesha Ecoverse, the swap ratio will be critical for existing shareholders, who may face significant dilution. Strategically, the merger brings yarn manufacturing from recycled polyester into the listed entity, potentially strengthening its recycled textile business and overall financial scale.