The Board of Directors considered and approved, in their meeting held today i.e. April 23, 2025, the draft scheme of amalgamation between Eulogia Inn Private Limited with Praveg Limited ....
PRAVEG · price
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Praveg Limited's board, at its April 23, 2025 meeting, approved a draft scheme to merge Eulogia Inn Private Limited (an unlisted hospitality company) into Praveg. Eulogia Inn is small relative to Praveg, with turnover of Rs. 7.5 crores versus Praveg's Rs. 118.3 crores, and net worth of Rs. 18.5 crores versus Praveg's Rs. 450.5 crores. The share exchange ratio is 1,000 Praveg equity shares (Rs. 10 face value) for every 6,683 shares held in Eulogia Inn. Post-merger, promoter holding will rise from 45.50% to 50.23% while public holding will fall from 54.50% to 49.77%. The board also approved applying for listing of Praveg's shares on NSE (currently BSE-listed). The scheme is not a related party transaction and is subject to NCLT, BSE, shareholders, and other regulatory approvals.
A small tuck-in acquisition in the complementary hospitality segment, with modest financial impact given Eulogia Inn's tiny size relative to Praveg. Promoter stake increases meaningfully, and the NSE listing application should improve share liquidity. Short-term stock reaction may be neutral; long-term depends on synergy realisation from the merger.