Outcome of meeting
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The board approved the allotment of 4,74,65,031 equity shares of Rs. 10 each to shareholders of Innovassynth Technologies (India) Ltd under a Scheme of Merger by Absorption approved by NCLT Mumbai Bench (order dated November 14, 2025). The swap ratio is 1:1 (one share of Innovassynth Investments for every one share of Innovassynth Technologies), with the record date being December 19, 2025. Post-allotment, the paid-up equity share capital rises to Rs. 75.44 crore divided into 7,54,49,316 shares, which will be listed on BSE. The board also made several leadership changes: Mr. Prosenjit Gupta appointed as Chairperson, Dr. Hardik Joshipura designated as MD & CEO, Mr. Jayesh Patel appointed as new CFO, and Mr. Sameer Pakhali redesignated from CFO to Company Secretary. New directors Mr. Viren Raheja, Mr. Akshay Raheja, Mrs. Ameeta Parpia, and Mr. Vaibhav Joshi were also appointed. KPMG was appointed as internal auditor for FY 2025-26.
Innovassynth Technologies shareholders now officially hold shares of the surviving entity (Innovassynth Investments); expect share price adjustment reflecting the larger diluted base. The merger is now effective and operational, with a refreshed board bringing in external expertise (Raheja Group representatives, KPMG as auditor) signalling stronger post-merger governance.