Scrutinizer report along with voting result.

Nclt Scheme FiledStrategic Transactions View source PDF Explain this filing

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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

-8.4%Reaction day

₹224.95

prior close

₹221.00

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-8.1% vs market

Packaged Foods peers, median of 33sector-0.7%-7.8% vs sector

On the reaction day the stock moved 8.1 pts less than Nifty Microcap 250 and 7.8 pts less than its Packaged Foods 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

+0.0

10m

-1.4

15m

-1.4

30m

-2.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-8.4-0.3-8.1-0.7-7.8

Next day

-5.8-1.8-3.9-2.1-3.7

-2.7-2.4-0.2-2.6-0.0

-3.1-2.3-0.8-3.0-0.0

-2.6-1.0-1.6-1.7-0.9

-5.3-1.5-3.9-2.2-3.2

-8.6-1.7-6.9-3.0-5.6

15d

-14.2-5.0-9.2-5.3-8.9

-10.8-3.6-7.3-4.5-6.3

+4.0-11.3+15.3-12.9+16.9

+1.7-7.7+9.4-10.5+12.2

UpDownMarket · Nifty Microcap 250Sector · Packaged Foods peers, median of 33Pending

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

AI summary

Sumuka Agro Industries Ltd (formerly Superb Papers Limited / Gujjubhai Industries Ltd) held an NCLT-convened court meeting of equity shareholders on November 18, 2025. Two resolutions were voted on: (1) a special resolution to approve the Scheme of Merger by Absorption of Gujjubhai Foods Pvt. Ltd. with Sumuka Agro Industries Ltd. under Sections 230-232 of the Companies Act, 2013, and (2) an ordinary resolution to increase the authorised share capital and amend the capital clause of the Memorandum of Association. Both resolutions passed with overwhelming support, receiving 16,87,502 votes in favour (99.99%) against just 1 vote against each. Total turnout was 23.74% of outstanding shares (1,687,503 votes out of 7,107,170 shares), with no votes from the promoter group.

Likely market impact

Shareholders have approved the merger of Gujjubhai Foods into Sumuka Agro Industries, clearing a key legal milestone in the NCLT process. With the shareholder vote secured, the scheme will now proceed for NCLT sanction, which could lead to share issuance to Gujjubhai Foods shareholders and potential dilution for existing Sumuka shareholders.