Megasoft Limited has informed the Exchange regarding 'Receipt of Observation Letters/ No-Objection Letter from BSE Limited and National Stock Exchange of India Limited for draft Scheme of Amalgamation between Sigma Advanced Systems Private Limited ( Transferor Company ) and Megasoft Limited ( Transferee Company ) and their respective shareholders and creditors under Section 230- 232 and other applicable provisions of the Companies Act, 2013 (Scheme).'.
SIGMAADV · price
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Awaiting price reaction for this filing.
Megasoft Limited has received No-Objection Letters from both BSE and NSE on May 16, 2025 for its draft scheme of amalgamation with Sigma Advanced Systems Private Limited (SASPL), originally approved by the board on October 18, 2024. Under the scheme, SASPL (the unlisted Transferor Company) will merge into Megasoft Limited (the listed Transferee Company) under Sections 230-232 of the Companies Act, 2013. SEBI has issued detailed observations requiring extensive disclosures to public shareholders, including pre and post-scheme shareholding patterns, share-swap ratio, valuation methodology, financial details of both entities, and the impact on promoter shareholding. The NOC is valid for six months from May 16, 2025, within which the company must file the scheme with the NCLT. The merger remains subject to NCLT approval, shareholder and creditor consent, and other regulatory clearances.
This is a key regulatory milestone that allows Megasoft to move forward with filing the amalgamation scheme at the NCLT. Public shareholders should be aware that the merger may lead to an increase in promoter shareholding in Megasoft post-scheme, and the deal is still pending NCLT sanction and voting by shareholders and creditors before it can be completed.