NCLT sanctions demerger of Yola Stays real estate business into Rishiraj Infravision
GLOBAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NCLT Mumbai has sanctioned the Scheme of Demerger of Yola Stays Limited (YSL), transferring its real estate business to Rishiraj Infravision Private Limited (RIPL). Share entitlement ratio is 1 RIPL share (Rs 1 face value) for every 1 YSL share (Rs 5 face value). Global Education holds 24 lakh YSL shares and will receive 24 lakh RIPL shares. NCLT noted the allotment is proportionate and causes no dilution in GEL's economic interest, shareholding or control. Appointed date is November 1, 2024. Shares not yet allotted.
GEL receives 24 lakh RIPL shares as a YSL shareholder. No dilution in economic interest. Largely neutral, mild value-unlock once allotted.