Announced Fri, 31 Jul · 18:14 IST
NCLT sanctions merger of Royal Spinwell into Royal Cushion Vinyl Products
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.0%1-day move
₹15.55
prior close
₹16.20
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-2.0-2.0-2.0-2.0-3.0-3.0-3.0-3.5+1.0-4.0-18.4-24.4——
Up moveDown movePending
AI summary
NCLT Mumbai has sanctioned the amalgamation of group company Royal Spinwell and Developers into Royal Cushion Vinyl Products (RCVPL). Appointed date is October 1, 2021. The scheme aims to consolidate adjoining surplus land parcels in Vadodara for better monetisation. Share swap: every 19 shares of Royal Spinwell get 7,807 equity shares plus 16,117 NCRPS of RCVPL. Effective once certified order is filed with Registrar of Companies.
Likely market impact
Group-level merger to combine land assets for monetisation. Minor share dilution expected from equity issued to Royal Spinwell shareholders.