Allotment of 84,80,735 fully paid up equity shares of INR 10/- each to the eligible shareholders of transferor companies as on Record date, i.e., May 14, 2025 in terms of scheme of amalgamation
NIMBSPROJ · price
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Nimbus Projects Ltd has allotted 84,80,735 fully paid-up equity shares of INR 10 each to eligible shareholders of 9 transferor companies — Gupta Fincaps Pvt Ltd, Urvashi Finvest Pvt Ltd, Intellectual Securities Pvt Ltd, Happy Graphics and Exhibition Pvt Ltd, Link Vanijya Pvt Ltd, Dynamo Infracon Pvt Ltd, Pushpak Trading & Consultancy Pvt Ltd, Mokha Vyapaar Pvt Ltd, and Padma Estates Pvt Ltd. The allotment is done under a Scheme of Arrangement for Amalgamation, with May 14, 2025 as the Record Date and Effective Date. The new shares will rank pari passu with existing shares and are proposed to be listed on BSE. An additional 8 equity shares were allotted to a trustee to handle fractional entitlements. The board approved the allotment at its meeting on May 16, 2025.
The share count of Nimbus Projects will increase by 84.8 lakh shares due to the amalgamation, which may dilute existing shareholders' holdings. However, since the amalgamation is now effective and shares are being allotted as per an approved share exchange ratio, this is a pre-disclosed corporate event and should already be priced into the stock.