Receipt of Certified True Copy of the final NCLT order
Awaiting price reaction for this filing.
Medinova Diagnostic Services Ltd (BSE: 526301) has received the certified true copy of the NCLT Hyderabad order dated October 13, 2025, approving the Scheme of Amalgamation with Vijaya Diagnostic Centre Ltd (VDCL, BSE: 543350, NSE: VIJAYA). Under the scheme, Medinova (the Transferor Company) will merge into Vijaya Diagnostic (the Transferee Company), which already holds 62.14% stake in Medinova. The Appointed Date for the merger is April 1, 2024, while the Effective Date will be triggered once the certified order is filed with the Registrar of Companies, Hyderabad. No adverse observations were received from BSE or NSE on the scheme, and the objective is group restructuring, operational synergies, cost savings, and simplification of the corporate structure. On scheme becoming effective, Medinova will be dissolved and its assets, liabilities, and shares will vest in VDCL.
For Medinova shareholders, this means they will be issued shares of Vijaya Diagnostic Centre in exchange as per the approved swap ratio, and Medinova's shares on BSE will eventually stand delisted. The stock price of Medinova may trade close to the implied swap ratio value ahead of the effective date, with limited upside from the merger itself since this is essentially a group simplification rather than a new strategic combination.