Merger23 Jul 2026, 06:50 pm
Gloster Ltd Proposes Amalgamation of Subsidiaries
AI Summary
Gloster Limited announced that its Board of Directors has approved a draft Scheme of Arrangement for the amalgamation of its wholly-owned subsidiaries, Gloster Lifestyle Limited and Gloster Specialities Limited, with itself. The scheme is being filed under Sections 230-232 of the Companies Act, 2013. The company has submitted the draft scheme and board resolutions to the exchange and paid the requisite processing fee of ₹29,500/- (including GST). This amalgamation aims to streamline corporate structure and operations.
Key Highlights
- Gloster Ltd to amalgamate two wholly-owned subsidiaries.
- Scheme of Arrangement approved by the Board of Directors.
- Amalgamation to be carried out under Companies Act, 2013.
- Draft scheme filed with the exchange.
- Transaction aims to simplify corporate structure.
Price Impact
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