Intimation of Allotment of 86,46,000 Equity Shares pursuant to Scheme of Arrangement.
Awaiting price reaction for this filing.
Citizen Infoline Ltd has allotted 86,46,000 equity shares of ₹10 each to the eligible shareholders of Citizen Solar Private Limited as per a Scheme of Amalgamation approved by the NCLT Ahmedabad Bench. The share exchange ratio has been fixed at 11:1, meaning 11 shares of Citizen Solar Private Limited entitled the holder to 1 share of Citizen Infoline. The Record Date for determining eligible shareholders was March 31, 2026, and the Board approved the allotment on April 3, 2026. Post-allotment, the paid-up equity capital stands at ₹14,04,33,000 comprising 1,40,43,300 equity shares. The newly issued shares will remain frozen until listing and trading permission is granted by BSE.
Existing shareholders of Citizen Infoline will see their stake diluted by roughly 62% due to the large share issuance, but the merger consolidates Citizen Solar's business into the listed entity. The frozen shares will eventually add to the stock's float, which could create short-term selling pressure once trading permission is granted.