Intimation of scheme under regulation 37(6) of SEBI (LODR), 2015 in continuance of intimation dated 9th June, 2025
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Modi's Navnirman Limited has filed a Scheme of Amalgamation to merge its wholly-owned subsidiary, Shree Modi's Navnirman Private Limited, into itself. The scheme was approved by the Boards of both companies on June 9, 2025, and is being pursued under Section 233 of the Companies Act, 2013 (the fast-track route for wholly-owned subsidiaries), with an Appointed Date of April 1, 2025. Since the subsidiary is fully held, no new equity shares will be issued and existing inter-company shareholdings will stand cancelled. The stated rationale is to simplify governance, reduce administrative and operational costs, and enhance shareholder value. The Transferee Company has an authorised share capital of INR 20 crore (2 crore equity shares of INR 10 each) and a paid-up capital of about INR 19.59 crore (1.95 crore shares).
This is a routine internal restructuring with no impact on shareholding pattern, EPS, or business operations. No open offer is triggered, and no new shares will be issued; the merger is likely to be neutral to mildly positive over time through cost savings.