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 reaction Largest first21 companies · 335 filings in 90 daysExcelpaid plans

Company	Why it’s here — the filing	Reaction Next day / 1w / 1m	Price	Mcap	P/E	ROCE	Rev YoY
MTAR TechnologiesOther Electrical Equipment	Tribunal sanctions merger of two wholly owned MTAR subsidiaries29 Oct 2026Scheme filed with the NCLT	-8.3% — —	₹5,449	16,759 Cr	125.6vs 22.5	12.4%	+130.4%
Privi Speciality CheSpecialty Chemicals	Privi shareholders approve merger of two private companies27 Oct 2026Scheme filed with the NCLT×3	+3.0% -3.2% —	₹3,362	13,133 Cr	35.2vs 21.9	12.2%	+12.0%
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	+0.4% +8.1% —	₹516	17,142 Cr	95.6vs 44.3	4.2%	+31.4%
Lloyds Engg WorkIndustrial Products	Unsecured creditors approve Lloyds Engineering Works merger scheme17 Oct 2026Scheme filed with the NCLT×6	-5.6% -10.3% —	₹83.4	12,923 Cr	49.1vs 25.6	3.9%	+87.4%
JK PaperPaper & Paper Products	YPL Enterprises promoter group shareholding rises to 7.06% in JK Paper via NCLT scheme14 Oct 2026Scheme filed with the NCLT	+3.1% -2.2% —	₹368	6,673 Cr	20.1vs 11.5	4.4%	+12.7%
Triveni Engg. & Inds.Sugar	TPTL gets BSE/NSE listing approval; trading starts Oct 12, 20269 Oct 2026Scheme filed with the NCLT×5	+5.1% +0.1% —	₹240	5,295 Cr	15.2vs 14.6	3.3%	+1.7%
CIE Automotive IndiaAuto Components & Equipments	CIE India: NCLT order on merger of wholly owned subsidiary CIEALCAST8 Oct 2026Scheme filed with the NCLT×2	+2.4% -0.3% —	₹354	13,429 Cr	14.4vs 25.4	7.5%	+11.0%
Maharashtra SeamlessIron & Steel Products	MSL board approves composite demerger into two wholly owned units7 Oct 2026Scheme filed with the NCLTDemerger ratio announced	-10.7% -16.8% —	₹570	7,639 Cr	10.4vs 15.8	13.0%	-4.7%
TVS Supply Chain SolLogistics Solution Provider	NCLT Bengaluru sanctions amalgamation of 5 entities into TVS Supply Chain1 Oct 2026Scheme filed with the NCLT	+2.3% -1.4% -6.4%	₹117	5,173 Cr	80.3vs 15.5	4.8%	+28.7%
Time TechnoplastPlastic Products - Industrial	Board approves merger of 74.86% subsidiary TPL Plastech with Time Technoplast29 Sept 2026Scheme filed with the NCLT×2	-2.5% -5.3% -14.1%	₹170	8,367 Cr	15.8vs 14.9	7.5%	+32.0%
JSW CementCement & Cement Products	JSW Cement board approves merger of subsidiary Shiva Cement29 Sept 2026Scheme filed with the NCLT×2	-1.2% -0.3% +2.8%	₹123	16,692 Cr	21.8vs 29.4	2.4%	+33.1%
HEG Advanced MaterialElectrodes & Refractories	Cost of Acquisition Apportionment under HEG Demerger Scheme29 Sept 2026Scheme filed with the NCLTDemerger ratio announced×17	+0.3% -3.7% -1.4%	₹297	9,805 Cr	14.2vs 30.5	9.8%	-38.5%
Kansai Nerolac PaintsPaints	NCLT sanctions merger of Nerofix with Kansai Nerolac Paints25 Sept 2026Scheme filed with the NCLT	+0.6% -0.3% -0.6%	₹196	15,854 Cr	25.9vs 33.2	6.9%	+18.6%
Lemon Tree HotelsHotels & Resorts	Lemon Tree gets NSE and BSE approval for composite restructuring scheme22 Sept 2026Scheme filed with the NCLT	-0.6% +0.1% +2.0%	₹117	9,241 Cr	35.9vs 25.5	4.9%	+18.0%
Cello WorldHouseware	Cello World completes fractional share compensation for Wim Plast merger17 Sept 2026Demerger ratio announcedScheme filed with the NCLT	-1.8% +0.8% +12.5%	₹365	8,237 Cr	26.5vs 32.3	7.2%	+7.8%
Swan Defence N Hevy IndSWANDEF	Amalgamation with Triumph Offshore effective from 17 Sept 202617 Sept 2026Scheme filed with the NCLT×2	+0.7% +0.0% +6.7%	₹2,750	14,488 Cr	34.9	-1.1%	+74.0%
IndiabullsIBULLSLTD	Indiabulls to acquire 70% in Fintech Cloud for Rs 1,050 cr via share swap11 Sept 2026Scheme filed with the NCLT	+10.2% +10.8% +36.3%	₹29.88	6,802 Cr	11.8	—	+40.5%
TSF InvestmentsInvestment Company	NCLT sanctions merger of Forge 2000 into Axles India9 Sept 2026Scheme filed with the NCLT	+3.2% +8.5% -5.0%	₹406	9,013 Cr	18.5vs 20.9	2.8%	+70.9%
Thyrocare TechHealthcare Service Provider	API Holdings absorbs Docon; 51.02% stake in Thyrocare vests in API4 Sept 2026Scheme filed with the NCLT×2	-1.0% -2.9% -11.0%	₹494	7,863 Cr	54.9vs 34.0	16.4%	+25.1%
KFIN TechnologiesDepositories Clearing Houses and Other Intermediaries	Board approves amalgamation of 3 subsidiaries into KFin Tech1 Sept 2026Scheme filed with the NCLT	-1.3% -4.1% -7.6%	₹916	15,832 Cr	45.3	9.7%	+29.9%
Sonata SoftwareComputers - Software & Consulting	Merger of wholly owned subsidiary Encore IT with Sonata effective25 Aug 2026Scheme filed with the NCLT	-2.1% -7.2% -8.5%	₹240	6,641 Cr	14.5vs 16.4	12.2%	+15.4%

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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