Please find enclosed copy of notice of meeting of equity shareholders schedule to be held on 21.08.2025.
Awaiting price reaction for this filing.
Narbada Gems and Jewellery Ltd has sent out a notice for a virtual meeting of its equity shareholders to be held on August 21, 2025, at 11:30 AM. The meeting has been ordered by the NCLT Hyderabad Bench (orders dated June 13 and July 2, 2025) under Sections 230-232 of the Companies Act, 2013. Shareholders will vote on a proposed Scheme of Amalgamation under which Narbada Gems (the listed Transferor Company, BSE scrip 519455) will merge into Uday Jewellery Industries Limited (the Transferee Company). The Board had approved the scheme on September 16, 2024, backed by a valuation report from Axiology Valuetech and a fairness opinion from Corporate Professionals Capital. BSE had already given its 'no objection' on the scheme via an observation letter dated March 20, 2025. Remote e-voting will run from August 18 to August 20, 2025, with August 14, 2025 as the cut-off date.
If shareholders approve the scheme and NCLT sanctions it, Narbada Gems will cease to exist as a separate listed entity and shareholders will receive shares of Uday Jewellery Industries in exchange, as per the swap ratio in the scheme. The stock could see some volatility ahead of the August 21 vote, and investors should review the valuation report and share-swap ratio before deciding how to vote.