Announced Fri, 10 Jul · 16:58 IST
NCLT approves amalgamation with DVS Industries, authorised capital rises to Rs 63.5 cr
MMFL · price
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Price reaction · full curve 14 horizons · vs prior close
-1.7%1-day move
₹524.95
prior close
₹525.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.7-1.1-1.6-1.9-1.7-0.7-0.3-0.3+1.5+5.0————
Up moveDown movePending
AI summary
MM Forgings informed that NCLT has approved the amalgamation of DVS Industries Pvt Ltd with the company under the scheme of amalgamation. Consequently, authorised share capital has increased to Rs 63.5 crore, divided into 6.35 crore equity shares of Rs 10 each. Clause V of the MOA has been amended to reflect this. The share capital update in master data is pending Form INC-28 approval from the Ministry of Corporate Affairs.
Likely market impact
NCLT scheme cleared; new equity may be issued to DVS shareholders per swap ratio, potentially diluting existing holders once MCA approves INC-28.