Indo-National Limited has informed the Exchange about Scheme of Arrangement
NIPPOBATRY · price
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Awaiting price reaction for this filing.
Indo-National Limited (listed on NSE and BSE, known for batteries/Nippo brand) has filed a Scheme of Amalgamation with the NCLT Chennai to merge its wholly owned subsidiary Helios Strategic Systems Limited (an unlisted investment company) into itself. The scheme, approved by the Boards of both companies on 25 October 2024, aims to simplify the group structure, reduce overheads, and eliminate inter-company transactions. The NCLT, by its order pronounced on 29 April 2025, has dispensed with shareholder/creditor meetings for the transferor but directed a meeting of Indo-National's 13,886 equity shareholders to be held on 21 June 2025 (quorum: 2,780). With 100% consent from the transferor's 7 shareholders and 100% affidavits from 26 unsecured creditors of the transferee secured, the process is being streamlined.
This is a within-group consolidation of a wholly owned subsidiary into the listed parent, with no expected change in shareholding pattern or dilution for existing shareholders. Operational, with no direct impact on stock price; shareholders should watch for the 21 June 2025 e-voting outcome.