Announced Wed, 8 Jul · 23:17 IST
NCLT approves withdrawal of Kalpataru demerger scheme for Project Magnus
KALPATARU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+0.1%1-day move
₹286.30
prior close
₹289.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.4+0.7+0.5+0.7+0.1-0.9-2.2-2.5-3.6-4.0————
Up moveDown movePending
AI summary
NCLT Mumbai has approved Kalpataru Limited's application to withdraw the proposed demerger of Project Magnus, a Bandra East property, from wholly owned subsidiary Kalpataru Properties into Kalpataru Limited. The Board's Executive Committee had first approved this withdrawal on June 2, 2026, with the scheme's appointed date being April 1, 2024. The NCLT order was received by the company on July 8, 2026.
Likely market impact
The demerger will not proceed, and Project Magnus remains with Kalpataru Properties. This formalizes a decision already taken, so limited fresh impact on shareholders.