NCLT allows first motion for amalgamation of promoter with Go Digit

Scheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

GODIGIT · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.3%Reaction day

₹259.25

prior close

₹258.85

announcement price

In-mkt

timing

Nifty Smallcap 250market-0.5%+0.8% vs market

General Insurance peers, median of 5sector+0.0%+0.3% vs sector

On the reaction day the stock moved 0.8 pts more than Nifty Smallcap 250 and 0.3 pts more than its General Insurance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.3-0.5+0.8+0.0+0.3

Next day

-1.3-0.3-1.0-0.1-1.2

-1.2-0.1-1.1-0.1-1.1

-2.4-0.7-1.7-0.3-2.1

-1.1-0.1-0.9+0.1-1.2

+0.4+0.3+0.1-0.7+1.1

+0.6-0.1+0.7-0.3+0.9

15d

+0.7+0.6+0.0-4.6+5.3

-3.0-2.6-0.4-4.1+1.1

+9.5-2.9+12.5-5.2+14.8

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UpDownMarket · Nifty Smallcap 250Sector · General Insurance peers, median of 5Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Mumbai allowed the first motion application for the scheme of amalgamation of Go Digit Infoworks Services, the promoter and holding company, with Go Digit General Insurance. NCLT directed convening of equity shareholders meeting within 90 days. Swap ratio: 262,589 equity shares of Go Digit for every 1,000 equity shares of Infoworks. Scheme aims to simplify structure and reduce holding layers. Still needs IRDAI and shareholder approval.

Likely market impact

Internal restructuring. Promoter holding to be cancelled. Awaiting shareholder and IRDAI approval before becoming effective.