Narayana Hrudayalaya Ltd. has informed the Exchange about Scheme of Arrangement - Receipt of Observation Letter indicating "No Objection" from National Stock Exchange of India (NSE) in relation to Scheme of Arrangement between Meridian Medical Research & Hospital Ltd (Transferor Company) and Narayana Hrudayalaya Limited (Transferee Company).
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Awaiting price reaction for this filing.
Narayana Hrudayalaya Ltd. (NHL) has received a 'No Objection' observation letter from the National Stock Exchange (NSE) dated June 24, 2025, for its proposed Scheme of Arrangement to merge its subsidiary Meridian Medical Research & Hospital Ltd. (MMRHL) into itself. BSE had already issued a 'no adverse observations' letter on June 23, 2025. The Board had first approved this scheme on November 29, 2024. SEBI, via its letter dated June 20, 2025, provided detailed comments that the company must incorporate. The NSE observation letter is valid for six months, within which the scheme must be filed with the National Company Law Tribunal (NCLT). Further approvals from NCLT, shareholders, and creditors are still required before the merger can take effect.
This is a procedural milestone — the company is one step closer to consolidating its subsidiary into the parent entity, which simplifies the group structure. No share-swap ratio or financial details have been disclosed yet. The stock is unlikely to react sharply until NCLT approval and concrete swap terms are announced.