Indo-National Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 21, 2025
NIPPOBATRY · price
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Indo-National Limited (Nippo Batteries) has issued notice for an Extraordinary General Meeting on June 21, 2025 at 10:00 AM (via video conferencing) to seek shareholder approval for the Scheme of Amalgamation with Helios Strategic Systems Limited. The scheme, originally approved by both companies' boards on October 25, 2024, was directed by the NCLT Chennai Bench via order dated April 29, 2025 (Application No. CA(CAA)/4(CHE)/2025). Under the scheme, Helios Strategic Systems (Transferor) will merge into Indo-National (Transferee) and stand dissolved without winding up. Remote e-voting runs from June 18 to June 20, 2025, with the cut-off date set at June 14, 2025 and a quorum requirement of 2,780 equity shareholders.
Shareholders of Indo-National should review and vote on the merger before June 21, 2025, as approval will allow Helios Strategic Systems to be absorbed into the listed company. If passed, the merged entity's scale and business mix will change, which could affect the stock's medium-term outlook depending on swap ratio terms and the value contributed by Helios.