Laxmi Goldorna House Limited has informed the Exchange regarding Notice of Meeting of Secured Creditors to be held on July 05, 2025
LGHL · price
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Laxmi Goldorna House Limited (LGHL) has called a meeting of its secured creditors on July 5, 2025, to seek approval for the amalgamation of its wholly-owned subsidiary Laxmi Infraspace Private Limited into LGHL. The merger is being done under Section 233 of the Companies Act, 2013 (the route used for holding company and wholly-owned subsidiary mergers, approved by the Regional Director rather than the NCLT). The scheme was approved by the boards of both companies on April 28, 2025, with an appointed date of April 1, 2025. LGHL's secured creditors stand at about Rs. 86.00 crore and unsecured creditors at Rs. 12.54 crore, while the transferor subsidiary has no secured creditors and about Rs. 21.24 crore in unsecured creditors. Since the transferor is fully owned by LGHL, no share-swap ratio is involved and existing shareholders will not see any change in their holdings.
This is largely a structural simplification move — a wholly-owned subsidiary being absorbed into the listed parent means no dilution or change in shareholding for existing LGHL shareholders. The outcome depends on creditor and Regional Director approval, but the deal is unlikely to materially affect the stock price on its own.