In continuation of our intimation dated April 19, 2025 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we wish to inform ....
PRAVEG · price
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Praveg Limited's Board, at its meeting on April 23, 2025, approved two key items. First, the company will apply to list its existing equity shares on the National Stock Exchange (NSE) in addition to its current BSE listing. Second, the Board approved a draft Scheme of Amalgamation to merge Eulogia Inn Private Limited (an unlisted hospitality company) into Praveg Limited, under Sections 230-232 of the Companies Act, 2013. The share exchange ratio has been fixed at 1,000 Praveg equity shares (Rs. 10 face value) for every 6,683 Eulogia Inn equity shares. As part of the deal, promoter shareholding will rise from 45.50% to 50.23%, with total shares increasing from about 2.61 crore to 2.79 crore. The Scheme is subject to approvals from BSE, the National Company Law Tribunal (NCLT), shareholders, and other regulators.
This amalgamation will consolidate hospitality operations under Praveg, increase the promoter group's stake to over 50%, and bring synergies through combined resources. The NSE listing application could also improve trading liquidity for shareholders. Pending NCLT and regulatory approvals, the timeline for completion remains uncertain.