NCLT allows first motion for Niyogin Fintech composite merger scheme

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+3.7%Reaction day

₹51.50

prior close

₹52.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+2.4% vs market

Non Banking Financial Company (NBFC) peers, median of 223sector+0.2%+3.5% vs sector

On the reaction day the stock moved 2.4 pts more than Nifty Microcap 250 and 3.5 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.6

10m

-0.0

15m

+0.7

30m

+1.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.7+1.3+2.4+0.2+3.5

Next day

+4.8-0.2+5.0-0.3+5.2

-1.0+0.1-1.1-0.4-0.5

-2.0-1.5-0.5-1.0-1.0

+0.3-0.5+0.8-1.2+1.5

+0.9-0.8+1.7-0.5+1.5

-9.2-2.0-7.1-1.2-8.0

15d

-8.7-3.4-5.3-2.2-6.5

-18.4-9.9-8.5-5.9-12.6

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UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 223Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Chennai allowed the first motion application for the composite scheme involving Niyogin Fintech, Niyogin Finserv, and iServeU. Plan: demerge NBFC business into Niyogin Finserv and merge remaining NFL with iServeU. NCLT directed meetings of NFL and iServeU equity shareholders and creditors to vote on the scheme. Share swap ratio is 1 Niyogin Finserv share for each NFL share. BSE no-objection and RBI in-principle approval are already in place.

Likely market impact

Routine procedural step, shareholder and creditor meetings next. If approved, NBFC arm moves to Niyogin Finserv and NFL merges into iServeU.