The company has received the observation letter with "No Adverse Observation" from BSE Limited in relation to the scheme of merger by absorption.
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Innovassynth Investments Limited (IIL) has received an observation letter dated May 12, 2025 from BSE with 'No Adverse Observations' on its proposed merger by absorption of Innovassynth Technologies India Limited (ITIL) into itself. SEBI had already provided its comments on the scheme on May 9, 2025, and BSE has now cleared it subject to certain disclosure and compliance conditions. The merger will proceed under Sections 230-232 read with Sections 52 and 66 of the Companies Act, 2013. The BSE observation letter is valid for six months, within which IIL must file the scheme with the NCLT for final approval.
This is a positive procedural milestone for the merger — BSE's clearance removes a key regulatory hurdle, bringing the scheme closer to NCLT and shareholder approval. The shareholding of the Promoter/Promoter Group is expected to increase post-merger, which public shareholders should review before voting on the scheme.