Regulatory25 Jun 2026, 10:20 pm
Kaiser Corp Scheme of Amalgamation Returned by BSE
AI Summary
Kaiser Corporation Ltd announced on June 25, 2026, that it received communication from BSE Limited regarding its Draft Scheme of Amalgamation with Emazing Deals Limited. BSE has returned the scheme, citing non-compliance with SEBI Master Circular dated June 20, 2023, specifically paragraph (A)(3)(b) concerning the minimum shareholding of pre-scheme public shareholders and QIBs in the merged entity (must be at least 25%). BSE has offered a waiver of processing fees if the scheme is refiled within ninety days. Kaiser Corporation is reviewing the observations with its advisors and will take appropriate steps.
Key Highlights
- BSE returned Kaiser Corp's draft amalgamation scheme with Emazing Deals.
- Non-compliance cited with SEBI Master Circular on post-merger shareholding.
- Minimum 25% shareholding for public/QIBs in merged entity not met.
- Scheme can be refiled within 90 days without processing fees.
- Kaiser Corp is consulting advisors on next steps.
Price Impact
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