Board approves WOS amalgamation and office shift to Nariman Point

Nclt Scheme FiledStrategic Transactions View source PDF

INDOBORAX · price

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Price reaction · full curve 14 horizons · vs prior close

-19.0%1-day move

₹484.00

prior close

₹425.95

base price

In-mkt

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+0.0-0.2-0.4—-19.0-22.5-10.9-17.4——————

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AI summary

Indo Borax board approved merging its wholly owned subsidiary Indoborax Infrastructure Private Limited into itself under Sections 230 to 232 of the Companies Act, with the scheme to be filed with NCLT Mumbai. No new shares will be issued as the subsidiary is wholly owned and shares will stand cancelled. Board also approved shifting registered office from Santacruz West to Nariman Point, within the same city.

Likely market impact

Internal group restructuring with no change in shareholding pattern. Subject to NCLT and regulatory approvals.