HLE Glascoat Limited has informed the Exchange about an update on Scheme of Arrangement
HLEGLAS · price
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HLE Glascoat Limited has informed the exchanges that the Scheme of Amalgamation of Kinam Enterprise Private Limited (Transferor Company) into HLE Glascoat Limited (Transferee Company) has been formally approved. The NCLT Ahmedabad Bench had sanctioned the scheme, with the certified copy received on August 28, 2025 and filed with the Registrar of Companies on September 1, 2025 (Effective Date). The appointed date for the amalgamation is August 7, 2023. As part of the scheme, the authorised share capital of Kinam Enterprise (Rs. 7 crore) has been merged into HLE Glascoat, taking the total authorised share capital to Rs. 27.6 crore (12.5 crore equity shares of Rs. 2 each and 26 lakh preference shares of Rs. 10 each). The Memorandum of Association has been amended accordingly.
This is a procedural completion update confirming the amalgamation is now effective, with HLE Glascoat absorbing Kinam Enterprise into its corporate structure. Shareholders should expect adjustments to reflect the combined entity's expanded capital base, though this is a private-to-public amalgamation with no immediate dilution or open offer triggered.