Revised - Summary Proceedings and Voting Results of the NCLT convened meeting of the shareholders of the company.
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Innovassynth Investments Limited held an NCLT-convened meeting of equity shareholders on September 5, 2025, via video conferencing to seek approval for the merger of Innovassynth Technologies (India) Limited (transferor) into itself (transferee), with an appointed date of October 1, 2024. Shareholders approved the scheme with the requisite majority: out of about 1.57 crore shares voted (56.27% of total outstanding equity), 95.07% voted in favour and 4.93% voted against. The promoter group voted 100% in favour with 88.04 lakh shares, while the public shareholder category also approved it with 88.81% in favour and 11.19% against. Notably, all 7.77 lakh shares voted by public institutions were against the scheme, while public non-institutions overwhelmingly backed it. The meeting was also attended by the NCLT-appointed chairman, scrutinizer, directors, auditors, and legal counsel. The scheme still requires final sanction from the NCLT Mumbai Bench to become effective.
This is a key procedural milestone but not the final approval — the merger still needs NCLT sanction before taking effect. Once cleared, it will consolidate both entities under Innovassynth Investments Limited, which may simplify the corporate structure and affect share-swap ratios for Innovassynth Technologies shareholders.