Laxmi Goldorna House Limited has informed the Exchange about Amalgamation/Merger
LGHL · price
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The board of Laxmi Goldorna House Limited (LGHL), a gold jewellery and real estate company, has approved a Modified Scheme of Amalgamation to merge its wholly owned subsidiary Laxmi Infraspace Private Limited (engaged in real estate) into itself. The merger is being done under Section 233(1)(a) of the Companies Act, 2013, which means it requires approval from the Regional Director (NWR), Ahmedabad — not the NCLT. No new shares will be issued as consideration since the transferor is a wholly owned subsidiary; the shares held by LGHL in Laxmi Infraspace will simply stand cancelled. There will be no change in the shareholding pattern of LGHL. As of March 31, 2025, Laxmi Infraspace had total assets of ₹21.22 crore, negative net worth of ₹-98,521, and zero turnover, while LGHL had total assets of ₹159.55 crore, net worth of ₹50.95 crore, and turnover of ₹87.82 crore. Notice for an EGM and creditors meeting has been approved, and a scrutinizer has been appointed for the e-voting process.
This is an internal group restructuring exercise with no impact on existing shareholders — no dilution, no change in shareholding pattern, and no cash outflow. The subsidiary being absorbed is loss-making and has no revenue, so the financial impact on LGHL is minimal, though the merger may marginally improve operational efficiency and reduce compliance costs.