Notice of EGM
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Sumuka Agro Industries Limited (BSE Scrip: 532070, Symbol: Sumuka) has issued a notice for an Extra-ordinary General Meeting (EGM) of equity shareholders scheduled on November 18, 2025 at 3:00 PM via video conferencing. The EGM is being convened as per directions of the NCLT Mumbai Bench (orders dated August 25, 2025 and September 22, 2025) to consider and approve the scheme of merger by absorption of Gujjubhai Foods Private Limited (GFPL, the transferor) with Sumuka Agro Industries Limited (SAIL, the transferee). The share swap ratio is 7:4 (4 SAIL shares for every 7 GFPL shares) as determined by Resurgent Valuers. As a result, promoter shareholding will rise sharply from 27.61% to 63.72%, while public shareholding will be diluted from 72.39% to 36.28%. The EGM will also consider increasing the authorised share capital from Rs. 7.5 crore to Rs. 13.5 crore. BSE had issued its observation letter on the scheme on May 14, 2025. Cut-off date for e-voting eligibility is November 11, 2025.
If approved, public shareholders will see their stake nearly halve (from 72.39% to 36.28%) as promoters take majority control of the listed entity through a share swap. The merger also requires the company to expand its authorised capital, indicating a material change in ownership structure that could weigh on minority shareholders.