Hubtown Limited has informed the Exchange about Scheme of Arrangement
HUBTOWN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hubtown Limited has received an NCLT Mumbai Bench order dated April 9, 2026, directing the company to convene meetings of equity shareholders and unsecured creditors for approving a scheme of amalgamation. Under this scheme, Saicharan Consultancy Private Limited (Transferor Company) will merge into Hubtown Limited (Transferee Company) with an appointed date of April 1, 2025. The share exchange ratio is 648 equity shares of Hubtown for every 1 equity share of Saicharan. The rationale is to consolidate Hubtown's ownership in Rare Townships Private Limited (RTPL), where Saicharan holds 21.17% and Hubtown holds 66.93%. RTPL is developing the 'Rising City' real estate project in Ghatkopar, Mumbai. Both BSE and NSE have issued 'no adverse observation' letters for the scheme.
This is a promoter-group related merger that will consolidate Hubtown's stake in its subsidiary RTPL. The scheme is at an early stage with shareholder and creditor meetings still pending. Shareholders should monitor for final NCLT approval and the actual swap ratio implementation.