Announced Mon, 20 Jul · 20:29 IST
NCLT meeting approves merger of GlobeTF and Estorifi into Veefin
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-7.3%1-day move
₹328.10
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-7.3-7.4-7.0-7.7-6.8—————
Up moveDown movePending
AI summary
Secured creditors of Veefin Solutions approved the scheme to merge GlobeTF Solutions and Estorifi Solutions into Veefin through Merger by Absorption. The NCLT Mumbai Bench convened meeting saw 100 percent votes in favor, representing Rs 25 Crore of secured debt. The scheme still needs final NCLT sanction.
Likely market impact
Two companies being merged into Veefin, expanding its business. Scheme moves closer to completion pending final NCLT approval.