Please find enclosed Notice of equity shareholders meeting schedule to be held on 21.08.2025.
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Uday Jewellery Industries has issued notice for a virtual meeting of its equity shareholders on August 21, 2025 at 12:30 PM, convened under the directions of the NCLT Hyderabad Bench (orders dated June 13, 2025 and July 2, 2025). The sole agenda is to consider and approve the Scheme of Arrangement for amalgamation of Narbada Gems and Jewellery Limited (Transferor Company) with Uday Jewellery Industries Limited (Transferee Company) under Sections 230-232 of the Companies Act, 2013. Both companies are Hyderabad-based listed entities in the gems and jewellery business, and the merger is essentially a consolidation within the same industry. BSE had already given its 'no objection' on the scheme via observation letter dated March 20, 2025. The scheme is supported by a Valuation Report from Axiology Valuetech (September 16, 2024) and a Fairness Opinion from Corporate Professionals Capital (September 16, 2024). Voting will be through remote e-voting (August 18-20, 2025) and e-voting at the meeting, with a cut-off date of August 14, 2025; the scheme requires majority of public shareholders voting in favour to proceed.
If approved by shareholders and subsequently sanctioned by NCLT, Narbada Gems will merge into Uday Jewellery, leading to a consolidation of two listed jewellery companies, potential increase in scale and market share, and a change in the shareholding pattern of Uday Jewellery. Shareholders should note the swap/exchange ratio details in the scheme documents and watch for the voting outcome, as it directly affects their stake in the combined entity.