GOCL Corporation Limited has informed the Exchange about receipt of Observation Letter with No Objection from National Stock Exchange of India Limited in relation to the Scheme of Merger.
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GOCL Corporation Limited has received a 'No Objection' letter from the National Stock Exchange of India Limited for the proposed merger by absorption of Hinduja National Power Corporation Limited (HNPCL) into GOCL. The Board of Directors had approved this scheme on December 15, 2025. The NOC is valid for six months from May 22, 2026. The merger remains subject to further approvals including from the Hon'ble NCLT, shareholders of both companies, and other regulatory authorities. SEBI has also provided comments requiring detailed disclosures including valuation reports, financial statements of all entities involved, classification of shareholders post-merger, and lender NOCs.
This is a procedural milestone that moves the merger closer to completion. Shareholders should note that the scheme still requires NCLT and shareholder approvals before becoming effective, and the companies must comply with SEBI's detailed disclosure requirements regarding valuations, financials, and shareholder classification.