intimation related to proposed scheme of merger by absorption of GFPL with SAIL and their respective shareholders under regulation 30 of SEBI LODR Regulations, 2015 as amended
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The NCLT Mumbai Bench-I pronounced an order on August 25, 2025, in the scheme of merger by absorption of Gujjubhai Foods Private Limited (GFPL, Transferor) into Sumuka Agro Industries Limited (SAIL, Transferee). The Tribunal has directed both companies to convene meetings of their equity shareholders (SAIL meeting scheduled for September 17, 2025 via video conferencing), while dispensing with creditor meetings as 100% of secured creditors and 90%+ of unsecured creditors have already given consent. Both BSE and NSE had earlier given their no-objection on May 14, 2025. The share swap ratio is fixed at 7 equity shares of SAIL (face value Rs. 10) for every 4 equity shares held in GFPL, with the appointed date being April 1, 2023. Both companies operate in the packaged snacks and food business, and post-merger SAIL will be renamed 'Gujjubhai Industries Limited.'
If shareholders approve, this will consolidate the snacks-food businesses under a single listed entity renamed Gujjubhai Industries Limited, with GFPL shareholders receiving Sumuka shares at the 7:4 swap ratio. The deal still requires shareholder approval and final NCLT sanction, so it's a key milestone but not yet concluded — investors should watch for the September 17 meeting outcome.