Sanction of the scheme of merger by absorption of Innovassynth Technology with Innovassynth Investments Limited by the Hon''ble NCLT.
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The NCLT Mumbai Bench has officially sanctioned the merger of Innovassynth Technologies (India) Limited (the operating unlisted company that makes specialty chemicals and pharma intermediates) into Innovassynth Investments Limited (the listed BSE entity, scrip code 533315, which currently operates as an investment company). Under the scheme, the unlisted operating business will merge into the listed shell, and the listed company's name will change to 'Innovassynth Technologies (India) Limited'. Shareholders of the transferor company will receive 1 equity share of the transferee for every 1 share held (1:1 swap ratio), with an appointed date of October 1, 2024. The merger was approved by 100% of the transferor shareholders and by 95.07% (by value) of the transferee shareholders. Upon completion, the transferor company will be dissolved without winding up, and the listed entity's authorised capital will increase from ₹29 crore to ₹105 crore.
For shareholders of Innovassynth Investments, this is a significant transformation — the listed entity will shift from being a pure investment/holding company to directly running the specialty chemicals and pharma intermediates business, potentially unlocking value but also introducing operating business risks. The 1:1 share swap ratio means existing transferee shareholders are not diluted by the merger mechanics for the transferor's external shareholders, though the overall share count will rise materially.