Vijaya Diagnostic Centre Limited has informed the Exchange regarding 'Updates on Scheme of Amalgamation'.
VIJAYA · price
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The NCLT Hyderabad Bench has sanctioned the scheme of amalgamation of Medinova Diagnostic Services Limited into Vijaya Diagnostic Centre Limited, which became effective on November 4, 2025 (the date the certified order was filed with the Registrar of Companies). The appointed date for the merger is April 1, 2024. Under the scheme, every 22 equity shares of Medinova (face value Rs 10) will be exchanged for 1 equity share of Vijaya (face value Rs 1), with the record date set as November 25, 2025. Vijaya's existing 62.14% stake in Medinova (62,02,220 shares) will stand cancelled and extinguished. As a result, Medinova Millennium MRI Services LLP (a Kolkata-based healthcare entity with turnover of around Rs 2.36 crore in FY25) will become a wholly owned subsidiary of Vijaya. The board also approved Vijaya's Q2 and H1 FY26 standalone and consolidated financial results.
Existing Vijaya shareholders will face minor dilution as new shares are issued to Medinova's minority public shareholders under the swap ratio. The merger consolidates Vijaya's position in the diagnostic services space by absorbing Medinova and bringing its subsidiary MRI LLP fully under Vijaya's umbrella, which could support future revenue and operational synergies.