Disclosure under Regulation 30 of SEBI Listing Regulations, the Board considered and approved the draft Scheme of Amalgamation between Eulogia Inn Private Limited (transferor Company) with ....
PRAVEG · price
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Praveg Limited's board approved a draft Scheme of Amalgamation to merge Eulogia Inn Private Limited (an unlisted hospitality company) into Praveg Limited. Under the share exchange ratio, Praveg will issue 1,000 equity shares (face value Rs. 10 each) for every 6,683 equity shares held in Eulogia Inn. Eulogia Inn had a turnover of Rs. 751.45 lakhs and net worth of Rs. 1,852.40 lakhs as of February 28, 2025, against Praveg's turnover of Rs. 11,831.02 lakhs and net worth of Rs. 45,045.31 lakhs. Post-merger, promoter holding in Praveg will rise from 45.50% to 50.23%, while public holding drops from 54.50% to 49.77%. The board also approved applying for listing of Praveg's equity shares on NSE. The scheme requires approvals from BSE, NCLT, and other regulatory authorities.
The merger will expand Praveg's hospitality business and increase promoter shareholding, which may dilute public shareholders' stake. The move into NSE listing could improve liquidity and visibility for the stock. The scheme is still subject to NCLT and shareholder approvals, so execution risk remains.