Pronouncement of order from Hon''ble NCLT-Hyderabad Bench pursuant to scheme of arrangement between Narbada Gems & Jewellery Limited and Uday Jewellery Industries Limited
Awaiting price reaction for this filing.
The NCLT Hyderabad Bench has approved the Scheme of Arrangement for Amalgamation of Narbada Gems and Jewellery Ltd (Transferor) with Uday Jewellery Industries Ltd (Transferee) on January 21, 2026, with the Appointed Date set as April 1, 2024. Both companies are BSE-listed and engaged in the gems and jewellery business, and their shareholders had earlier approved the merger with 99.99% majority at EGMs held on August 21, 2025. Under the approved scheme, Narbada Gems shareholders will receive 4,623 equity shares of Uday Jewellery Industries for every 10,000 shares held in Narbada Gems. The scheme will become effective only after the certified copy of the NCLT order is filed with the Registrar of Companies by both companies, following which Narbada Gems will stand dissolved without winding up. BSE had already granted its no-objection for the scheme on March 20, 2025, and the Regional Director and Official Liquidator also raised no material objections.
Narbada Gems shareholders will eventually receive Uday Jewellery Industries shares in exchange for their holdings (at a ratio of 4,623:10,000), and Narbada Gems will cease to exist as a separate listed entity once the scheme becomes effective, effectively transferring shareholder value to the surviving entity.