Press Release-Filing of 1st motion Application for Amalgamation
Awaiting price reaction for this filing.
Narbada Gems & Jewellery Limited has filed a Joint First Motion Application with the NCLT Hyderabad Bench for a proposed Scheme of Amalgamation with Uday Jewellery Industries Limited. This is the initial procedural step to seek NCLT approval for the merger under the Companies Act, 2013. The company said the merger aims to streamline operations, improve efficiencies, and strengthen its position in the jewellery industry. The scheme is still subject to statutory, regulatory, and shareholder approvals.
This is an early-stage corporate action with no immediate effect on share price or shareholder rights, but it signals potential consolidation in the jewellery sector. Shareholders should watch for the swap ratio announcement and NCLT approval timelines in upcoming updates.