Indiabulls Enterprises Limited has informed the Exchange regarding 'Intimation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding (a) effectiveness of the Scheme of Arrangement; and (b) fixation of Record Date for issue of shares under the Scheme'.
Awaiting price reaction for this filing.
Indiabulls Enterprises Limited has informed the stock exchange that its Scheme of Arrangement has become effective, meaning it has received all required regulatory and NCLT approvals. The company has fixed a Record Date for issuing shares to eligible shareholders under the scheme. Shareholders whose names appear in the company's records on the Record Date will be entitled to receive shares pursuant to the scheme. This is a corporate restructuring event that will result in a change to the company's capital structure.
Eligible shareholders will receive new shares credited to their demat accounts based on their holdings on the Record Date. Investors should watch for the detailed scheme document specifying the share entitlement ratio, and expect possible trading activity around the record date.