Intimation under Regulation 47 in relation to approval of merger scheme between Scan Projects Ltd (Transferee Company) and Chanderpur Industries Pvt Ltd (Transferor Company).
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Awaiting price reaction for this filing.
Scan Projects Ltd's Board of Directors approved a scheme of merger with Chanderpur Industries Private Limited on 18th September 2025, where Chanderpur (Transferor) will merge into Scan Projects (Transferee). The appointed date is 1st April 2026, and the share swap ratio is 3 equity shares of Scan Projects (face value Rs 10 each) for every 1 equity share held in Chanderpur Industries. The merger is subject to approvals from NCLT, SEBI, BSE, shareholders, and creditors of both companies. The combined entity aims to strengthen its presence in Oil & Gas, Petrochemicals, Defence, and Nuclear sectors by combining Chanderpur's manufacturing capabilities with Scan's existing engineering machinery business. The newspaper publication in The Pioneer (English) and Danik Uttam Hindu (Hindi) is being filed with BSE to comply with disclosure norms.
If approved, the merger will expand Scan Projects' manufacturing footprint and product offerings, but will also dilute existing shareholders due to the 3:1 share swap ratio. The stock may see volatility as the deal progresses through regulatory approvals from NCLT, SEBI, and BSE.