PFA, Outcome of Bord Meeting held on 05.03.2026
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Awaiting price reaction for this filing.
The Board of Directors of Uday Jewellery Industries Ltd approved the allotment of 97,81,025 equity shares of Rs. 10 each to eligible shareholders of the Transferor Company, in line with a Scheme of Arrangement that has now become effective. The Record Date for determining entitled shareholders was 27th February 2026. Additionally, 3,418 shares arising from fractional entitlements were allotted to Mr. Siddharth Goel (Independent Director) acting as Trustee, with net sale proceeds from these fractional shares to be distributed within 90 days. The Authorized Share Capital of the company has been increased to Rs. 47.50 crores, divided into 4,75,00,000 equity shares of Rs. 10 each, pursuant to the Scheme. The Board also approved opening a Demat Suspense Account (with CDSL) for unclaimed shares, and adopted amendments to the Related Party Transaction Policy and the Insider Trading Code as per SEBI regulations.
This is a consequential step in the company's Scheme of Arrangement (likely a merger/amalgamation), leading to share dilution and an expansion of authorized capital. Existing shareholders may see changes in shareholding pattern as new shares are allotted to the transferor company's shareholders, and the stock could react to the increased equity base.