In continuation of our earlier intimation dated 01/05/2025, we hereby submit the Certified Copy of Order of Hon''ble NCLT, Cuttack Bench approving the Scheme of Arrangement between Popular ....
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Awaiting price reaction for this filing.
Shri Bajrang Alliance Limited has submitted the certified copy of the NCLT Cuttack Bench order dated April 25, 2025, approving the Scheme of Amalgamation between the company and its wholly-owned subsidiary, Popular Mercantile Private Limited. The appointed date is April 1, 2024. Since Popular Mercantile is a wholly-owned subsidiary, no new shares will be issued and there will be no dilution for existing public shareholders. Upon the scheme becoming effective, all assets and liabilities of Popular Mercantile will transfer to Shri Bajrang Alliance, and the subsidiary will stand dissolved without going through the winding-up process. The company must file the certified order with the Registrar of Companies within 30 days for the scheme to take effect.
This is a routine internal restructuring that simplifies the corporate structure by merging a wholly-owned subsidiary into the listed parent. Shareholders will not be affected as no new shares are issued and there is no change in shareholding pattern, so the stock price is unlikely to react significantly to this news.