Demergers & amalgamations

Every company here filed a step of a scheme of arrangement inside the window: a demerger or amalgamation approved by the board, an exchange observation letter, a court-convened shareholder or creditor meeting, the NCLT's sanction, or the record date that makes it real. The filing on each row shows which stage the scheme has reached.

Window30 days 90 days 180 daysSizeAll sizes Large cap Mid cap Small capProfitable only

ReactionRaw vs market vs sectorSortMost recent Best 1-week vs market Largest first143 companies · 333 filings in 90 daysExcelpaid plans

Company	Why it’s here — the filing	vs market · Next day / 1w / 1m	Price	Mcap	P/E	ROCE	Rev YoY
Ashok LeylandCommercial Vehicles	NCLT approves merger of Hinduja Leyland Finance into NDL Ventures5 Nov 2026Scheme filed with the NCLT×2	pending	₹167	98,270 Cr	28.3	7.5%	+11.6%
Gujarat EnergyLPG/CNG/PNG/LNG Supplier	0.8 million tonne yearly LNG sourcing approved; Q2 profit rises 22% to Rs 639 crore5 Nov 2026Demerger ratio announced×3	pending	₹216	20,238 Cr	9.1vs 12.9	8.8%	+147.7%
GO Digit General InsGeneral Insurance	Shareholders approve Go Digit Infoworks amalgamation5 Nov 2026Scheme filed with the NCLT×8	pending	₹249	22,981 Cr	161.4	—	—
Thomas CookTour Travel Related Services	Tribunal admits Thomas Cook restructuring at 81:100 share ratio5 Nov 2026Demerger ratio announcedScheme filed with the NCLT×2	pendingraw +5.9% reaction day	₹99.16	4,664 Cr	22.6vs 26.1	4.7%	-6.3%
Mindpool TechnologiesMINDPOOL	NCLT allows Mindpool and S A Tech amalgamation; shareholder vote pending4 Nov 2026Scheme filed with the NCLT	pending	₹71.1	30 Cr	79.0	2.6%	—
Narayana HrudayalayaHospital	NCLT sanctions demerger of clinical services undertaking4 Nov 2026Scheme filed with the NCLT	pendingraw -1.1% reaction day	₹1,910	39,041 Cr	45.2vs 44.1	5.4%	+73.0%
Parag Milk FoodsDairy Products	Parag Milk Foods board approves merger of wholly owned subsidiary3 Nov 2026Scheme filed with the NCLT	pending — —raw +29.1 — —vs Nifty Microcap 250	₹331	4,147 Cr	32.9vs 27.3	5.0%	+23.1%
Dalmia Bharat SUG INSugar	Dalmia Bharat Sugar approves demerger of Hippostores technology business3 Nov 2026Demerger ratio announced	pending — —raw +14.1 — —vs Nifty Microcap 250	₹479	3,880 Cr	15.6vs 15.0	2.5%	+26.1%
Tata SteelIron & Steel	Tata Steel amalgamation with Rujuvalika becomes effective3 Nov 2026Scheme filed with the NCLT×3	-0.7% — —raw +1.6 — —vs Nifty 100	₹181	2.26 L Cr	20.5vs 13.0	7.6%	+14.3%
BirlanuOther Construction Materials	BirlaNu to set up wholly owned digital platform subsidiary2 Nov 2026Scheme filed with the NCLT×2	-8.0% — —raw -5.6 — —vs Nifty Microcap 250	₹1,211	916 Cr	—	-1.7%	+9.2%
JSW SteelIron & Steel	Piombino Steel merger with JSW Steel becomes effective1 Nov 2026Scheme filed with the NCLT×4	+2.5% — —raw +5.7 — —vs Nifty 100	₹1,343	4.10 L Cr	11.5vs 13.0	7.1%	+20.7%
Shish IndustriesPlastic Products - Industrial	National Company Law Tribunal directs vote on merger of two wholly owned companies31 Oct 2026Scheme filed with the NCLT×3	-8.1% — —raw -6.4 — —vs Nifty Microcap 250	₹11.86	500 Cr	1186.0vs 14.2	-0.2%	+36.3%
Taneja Aerospace & AviaAerospace & Defense	TAAL board approves Katra Auto merger effective April 202730 Oct 2026Scheme filed with the NCLT×2	-1.4% — —raw +0.3 — —vs Nifty Microcap 250	₹306	780 Cr	46.4vs 72.7	13.4%	-6.8%
Niyogin FintechNon Banking Financial Company (NBFC)	Secured creditors review Niyogin composite scheme30 Oct 2026Scheme filed with the NCLT×5	+4.0% — —raw +2.9 — —vs Nifty Microcap 250	₹45.28	504 Cr	—	—	-19.8%
Pradeep MetalsAuto Components & Equipments	NCLT approves Nami Capital amalgamation with Pradeep Metals29 Oct 2026Scheme filed with the NCLT	-3.8% — —raw -4.9 — —vs Nifty Microcap 250	₹604	1,043 Cr	34.4vs 25.6	20.9%	+4.5%
MTAR TechnologiesOther Electrical Equipment	Tribunal sanctions merger of two wholly owned MTAR subsidiaries29 Oct 2026Scheme filed with the NCLT	-7.7% — —raw -8.3 — —vs Nifty Smallcap 250	₹5,449	16,759 Cr	125.6vs 21.7	12.4%	+130.4%
TVS Motor Company2/3 Wheelers	TVS Motor buys Harita ARC and moves consumer finance business into it28 Oct 2026Demerger ratio announced×2	+3.8% — —raw +4.7 — —vs Nifty 100	₹4,459	2.12 L Cr	55.4vs 36.0	10.5%	+38.6%
Tilak VenturesInvestment Company	Board approves 7:3 split of commodities trading into Tilak Jewels27 Oct 2026Demerger ratio announced×2	-0.7% — —raw 0.0 — —vs Nifty Microcap 250	₹1.28	171 Cr	2.7vs 20.9	4.1%	-43.0%
Waaree EnergiesOther Electrical Equipment	Waaree acquires data centre arm; Q2 profit Rs 754 crore27 Oct 2026Scheme filed with the NCLT×4	+0.7% — —raw +1.9 — —vs Nifty Midcap 150	₹2,400	69,036 Cr	18.7vs 21.7	10.2%	+23.9%
EFC (I)Diversified Commercial Services	NCLT sets 27 November 2026 final hearing for EFCIL demerger27 Oct 2026Scheme filed with the NCLT×3	+0.3% — —raw +1.0 — —vs Nifty Microcap 250	₹163	2,417 Cr	8.2vs 14.7	8.8%	+30.4%
Share Ind. SecuritiesStockbroking & Allied	Tribunal approves revised start date for Silverleaf merger27 Oct 2026Scheme filed with the NCLT×3	+0.2% — —raw +0.9 — —vs Nifty Microcap 250	₹182	3,988 Cr	7.9vs 16.1	—	+146.8%
Privi Speciality CheSpecialty Chemicals	Privi shareholders approve merger of two private companies27 Oct 2026Scheme filed with the NCLT×3	+0.5% pending —raw +3.0 -3.2 —vs Nifty Smallcap 250	₹3,315	12,949 Cr	34.7vs 21.9	12.2%	+12.0%
Samvrdhna MTHRSN IntlAuto Components & Equipments	NCLT approves Motherson group composite reorganisation26 Oct 2026Scheme filed with the NCLT	+4.2% pending —raw +4.3 +8.6 —vs Nifty 100	₹156	1.64 L Cr	34.8vs 25.6	4.2%	+26.9%
P O C L EnterprisesCommodity Chemicals	POCL shareholders to vote on Planetfirst Green amalgamation26 Oct 2026Scheme filed with the NCLT×4	-4.9% pending —raw -3.1 +1.4 —vs Nifty Microcap 250	₹114	351 Cr	8.0vs 17.1	25.7%	—
Venmax Drugs and PharmaceuticaPharmaceuticals	Shareholders approve Hatri Pharma amalgamation with Venmax26 Oct 2026Scheme filed with the NCLT×3	-8.9% pending —raw -7.1 +1.7 —vs Nifty Microcap 250	₹14	16 Cr	34.1vs 28.9	2.0%	+104.9%
Ekam Leasing & Finance Co.ltd.Diversified Commercial Services	Amalgamation hearing moved to 14 December 202626 Oct 2026Scheme filed with the NCLT	-0.0% pending —raw +1.8 +10.0 —vs Nifty Microcap 250	₹9.4	6 Cr	—	—	+394.1%
Mankind PharmaPharmaceuticals	Board approves amalgamation of two wholly owned subsidiaries26 Oct 2026Scheme filed with the NCLT	+11.1% +8.6% —raw +13.1 +14.8 —vs Nifty Midcap 150	₹2,516	1.04 L Cr	46.3vs 28.9	7.3%	+17.3%
Agribio SpiritsBreweries & Distilleries	Shareholders approve Agribiotech Industries amalgamation26 Oct 2026Scheme filed with the NCLT×3	-1.9% +0.8% —raw +0.3 +5.0 —vs Nifty Microcap 250	₹311	338 Cr	78.9vs 27.0	1.8%	-91.4%
Rudra EcovationOther Textile Products	Cross-holdings cancelled under effective Rudra-Shiva Texfabs amalgamation24 Oct 2026Scheme filed with the NCLT×5	-6.1% -10.0% —raw -3.9 -5.7 —vs Nifty Microcap 250	—	—	—	-1.9%	-94.3%
Network18 Media & InvMedia & Entertainment	NCLT approves merger of News18 Marathi with Network18 Media23 Oct 2026Scheme filed with the NCLT	-0.4% +8.4% —raw +1.7 +12.6 —vs Nifty Microcap 250	₹26.6	4,102 Cr	—	-2.5%	+9.4%
Arisinfra SolutionsOther Construction Materials	Arisunitern merger: National Company Law Tribunal meeting on November 25, 202623 Oct 2026Scheme filed with the NCLT×3	+4.7% +7.3% —raw +6.9 +11.5 —vs Nifty Microcap 250	₹146	1,192 Cr	16.1vs 28.9	7.1%	+27.6%
Ugro CapitalNon Banking Financial Company (NBFC)	UGRO Capital Profectus merger hearing set for 20 November 202622 Oct 2026Scheme filed with the NCLT×5	-3.0% -12.0% —raw -4.9 -12.3 —vs Nifty Microcap 250	₹70.97	1,085 Cr	4.9vs 17.6	—	—
Jindal StainlessIron & Steel	Board okays Q2 results, scheme to merge 4 wholly-owned subsidiaries22 Oct 2026Scheme filed with the NCLT	-1.7% -6.5% —raw -2.8 -4.2 —vs Nifty Midcap 150	₹687	56,627 Cr	17.0vs 13.0	8.0%	+18.2%
Shyam Metalics and EngyIron & Steel Products	Tribunal approves merger of wholly owned electrocast unit into Shyam Sel and Power22 Oct 2026Scheme filed with the NCLT	-0.9% +1.5% —raw -4.7 +1.2 —vs Nifty Smallcap 250	₹1,251	34,835 Cr	25.4vs 15.7	8.2%	+33.7%
NBCCCivil Construction	NBCC: Corrigendum to MCA order on HSCC merger scheme21 Oct 2026Scheme filed with the NCLT	-1.1% +6.8% —raw -5.0 +6.5 —vs Nifty Smallcap 250	₹76.87	20,755 Cr	26.2vs 13.5	13.5%	+16.7%
Gocl CorporationExplosives	NCLT meeting on Nov 24 to approve HNPCL merger into GOCL21 Oct 2026Scheme filed with the NCLT×2	-3.3% -6.2% —raw -6.6 -7.8 —vs Nifty Microcap 250	₹323	1,600 Cr	4.4vs 59.6	3.2%	+85.0%
LactosePharmaceuticals	NCLT approves amalgamation of Vitanosh Ingredients into Lactose India21 Oct 2026Scheme filed with the NCLT×4	+2.1% +14.5% —raw -1.5 +8.9 —vs Nifty Microcap 250	₹105	132 Cr	19.0vs 28.9	9.2%	+18.7%
Dr. Agarwal's Eye HospHospital	Merger approved; share exchange record date fixed for November 1820 Oct 2026Scheme filed with the NCLT×3	+0.5% +9.8% —raw -3.1 +4.3 —vs Nifty Microcap 250	₹5,420	2,618 Cr	36.8vs 44.1	14.3%	+20.2%
Dr Agarwals Health CareHospital	NCLT amalgamation scheme effective Nov 1; share swap ratio 23:2; record date Nov 1820 Oct 2026Scheme filed with the NCLT×2	+4.0% +13.7% —raw +0.4 +8.1 —vs Nifty Microcap 250	₹514	17,065 Cr	95.1vs 44.1	4.2%	+31.4%
RECFinancial Institution	REC gets NOC from NSE and BSE for merger with Power Finance Corp19 Oct 2026Scheme filed with the NCLT×2	+1.8% -3.4% —raw -0.4 -5.5 —vs Nifty Midcap 150	₹295	77,785 Cr	5.2vs 14.9	—	-1.0%

How this list is built

A company appears when an NSE/BSE filing inside the last 90 days carries one of these classifier signals (minimum importance: Medium): Scheme filed with the NCLT, Demerger ratio announced. Each row shows the latest qualifying filing; the reaction columns are the stock’s measured move from the close before that filing to the close of the next day (one session after the reaction day), 1 week and 1 month later. vs market subtracts the move of the company’s size index (Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, or Nifty Microcap 250 for smaller and SME companies) over the same two closes; for filings before June 2026 that is the index membership as recorded later (tracked since Jun 2026). vs sector subtracts the median move of its industry peers. Both are differences in percentage points, not a measure of what the filing did. A benchmark that has not landed yet reads “pending”: the index close arrives a session after the stock’s.

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