Laxmi Goldorna House Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on July 05, 2025
LGHL · price
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Laxmi Goldorna House Limited (LGHL) has called an Extra-Ordinary General Meeting on Saturday, 5th July 2025 at 11:00 AM at its corporate office in Ahmedabad. The sole item of special business is the approval of a Scheme of Amalgamation of its 100% subsidiary, Laxmi Infraspace Private Limited (LIPL), into LGHL. Since LIPL is a wholly-owned subsidiary, no new shares will be issued and no valuation is required. The appointed date for the merger is 1st April 2025, and the scheme was first approved by the Board on 28th April 2025. The resolution requires approval of at least 90% of shareholders under Section 233(1)(b) of the Companies Act, 2013. E-voting window runs from 30th June to 4th July 2025, with the cut-off date set as 27th June 2025. LGHL has paid-up equity capital of about Rs. 20.87 crore (2.08 crore shares of Rs. 10 each) and total dues to creditors of about Rs. 98.55 crore as of 31st March 2025.
This is a routine internal restructuring where the listed company is absorbing its wholly-owned subsidiary. Since no new shares are being issued and there is no impact on creditors, KMPs, or promoter holdings, existing shareholders should see no dilution. The move is expected to simplify the group structure and reduce compliance costs, which is mildly positive for operational efficiency but unlikely to move the stock price materially on its own.