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 first25 companies · 333 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 21.7	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% —	₹3,315	12,949 Cr	34.7vs 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% —	₹514	17,065 Cr	95.1vs 44.1	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% —	₹82.66	12,808 Cr	48.6vs 25.9	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% —	₹361	6,548 Cr	19.8vs 11.3	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% —	₹239	5,268 Cr	15.1vs 15.0	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% —	₹353	13,378 Cr	14.3vs 25.6	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% —	₹562	7,527 Cr	10.2vs 15.7	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	5,148 Cr	79.9vs 16.1	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%	₹178	8,793 Cr	16.6vs 14.2	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%	₹122	16,435 Cr	21.5vs 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%	₹283	9,346 Cr	13.6vs 29.9	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	15,861 Cr	25.9vs 34.1	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%	₹118	9,324 Cr	36.2vs 25.7	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%	₹354	7,977 Cr	25.7vs 31.1	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%	₹2,730	14,382 Cr	34.6	-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%	₹29.36	6,683 Cr	11.6	—	+40.5%
Sammaan CapitalHousing Finance Company	Shareholders approve SFL-SCL demerger scheme at NCLT meeting10 Sept 2026Scheme filed with the NCLT×2	-5.3% -3.8% -11.8%	₹130	15,082 Cr	—	—	-31.2%
TSF InvestmentsInvestment Company	NCLT sanctions merger of Forge 2000 into Axles India9 Sept 2026Scheme filed with the NCLT	+3.2% +8.5% -5.0%	₹403	8,942 Cr	18.4vs 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%	₹489	7,782 Cr	54.3vs 33.9	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%	₹907	15,679 Cr	44.9	9.7%	+29.9%
Sapphire Foods IndiaRestaurants	Sapphire Foods-Devyani merger: scheme amended, secondary sale terminated26 Aug 2026Scheme filed with the NCLT	-6.7% -7.5% -12.7%	₹210	6,739 Cr	—	0.5%	+19.6%
Devyani InternationalRestaurants	DIL amends merger scheme with Sapphire Foods; SPA terminated26 Aug 2026Scheme filed with the NCLT	-6.5% -6.6% -12.4%	₹128	15,833 Cr	—	-1.1%	+16.5%
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%	₹235	6,496 Cr	14.2vs 16.6	12.2%	+15.4%
RHI Magnesita IndiaElectrodes & Refractories	Merger of Intermetal into Ashwath Technologies becomes effective18 Aug 2026Scheme filed with the NCLT	-1.5% -3.1% -3.3%	₹360	7,429 Cr	—	-8.2%	+5.6%

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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