Notice Convening meeting of Shareholder for their requiste approval for Amlagmation of Trasferor Company Citizen Solar Private Limited into Transferee Company Citizen Infoline Limited. ....
Awaiting price reaction for this filing.
Citizen Infoline Limited has called a meeting of its equity shareholders on Wednesday, September 3, 2025, at 12:00 noon via video conferencing to approve the proposed Scheme of Amalgamation with Citizen Solar Private Limited (unlisted Transferor Company). The scheme, under Sections 230-232 of the Companies Act, 2013, was directed by the NCLT Ahmedabad Bench via order dated July 21, 2025, following BSE's observation letter dated May 12, 2025. As a result of the merger, the promoter/promoter group shareholding will increase significantly from 34.77% to 53.49%, while public shareholding will reduce from 65.23% to 46.51%. The appointed date and effective date along with share exchange ratio will be finalized upon NCLT approval.
Public shareholders should note that approving this scheme means accepting a substantial dilution of their stake (-18.75%) and an increase in promoter control to over 50%. The deal will consolidate Citizen Solar's business into the listed entity, but the significant shift in shareholding balance is a key consideration for voting.