Please find enclosed herewith Outcome of the Board Meeting relating to approval of scheme of merger.
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Royal Sense Limited (BSE: 544143) has approved a Scheme of Merger by Absorption under which TTG Innovations Private Limited (TIPL) will merge into the company. Under the scheme, shareholders of TIPL will get 18.1 equity shares of Royal Sense (face value Rs. 10) for every 1 share held in TIPL. Royal Sense has a net worth of Rs. 2,557.04 lakhs and turnover of Rs. 3,971.07 lakhs, while TIPL has a net worth of Rs. 124.42 lakhs and turnover of Rs. 1,572.45 lakhs. Both companies operate in the pharmaceutical, medical, surgical, and cosmetic products space. The transaction is classified as a related party deal done at arm's length price. The merger will increase total shares from 53.50 lakh to 71.60 lakh, raising promoter holding from 62.24% to 66.33%.
The merger consolidates Royal Sense's pharmaceutical and medical products business by absorbing a complementary entity, likely improving operational synergies and product offerings. Shareholders should note promoter stake will increase to 66.33% post-merger, slightly reducing public holding. The scheme still requires NCLT, SEBI, BSE, and shareholder approvals before becoming effective, so the actual impact on the stock will depend on successful completion.