Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015- Final Order passed by the NCLT, Cuttack Bench dated 25/04/2025 approving Scheme of Amalgamation between Popular Mercantile ....
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The NCLT Cuttack Bench has approved the Scheme of Amalgamation of Popular Mercantile Private Limited (a wholly owned subsidiary of Shri Bajrang Alliance) into Shri Bajrang Alliance Limited, with an appointed date of 01 April 2024. Since Popular Mercantile is a wholly owned subsidiary, no new shares will be issued or allotted to shareholders, and there will be no change in the equity share capital of Shri Bajrang Alliance. Upon the scheme becoming effective (after filing the certified NCLT order with the Registrar of Companies), Popular Mercantile will stand dissolved without winding up, and all its assets, liabilities, and ongoing proceedings will transfer to Shri Bajrang Alliance. The scheme had received no objections from the Regional Director, Income Tax authorities, Registrar of Companies, SEBI, BSE, and Competition Commission of India. The Transferee Company has clarified that its second secured creditor (Bank of Baroda) relates only to a corporate guarantee of Rs. 221.14 crores extended for a related entity, Shri Bajrang Chemical Distillery LLP, not its own borrowing.
This is a pure internal restructuring with no impact on public shareholders — no new shares issued, no dilution, and the shareholding pattern remains unchanged. The merger simplifies the corporate structure by absorbing a wholly owned subsidiary and may lead to some operational efficiencies, but is unlikely to materially move the stock price.