Corporate Action23 Oct 2026, 01:55 pm
Newgen Software Approves Scheme of Arrangement for Amalgamation
AI Summary
Newgen Software Technologies Ltd announced that its Board of Directors has approved a Scheme of Arrangement for the amalgamation of its wholly-owned subsidiary, Newgen Computers Technologies Limited, with itself. The amalgamation is intended to streamline operations and is subject to various statutory and regulatory approvals, including from the National Company Law Tribunal. The Appointed Date for the scheme is April 1, 2026. The board also approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026.
Key Highlights
- Board approved amalgamation of wholly-owned subsidiary.
- Amalgamation subject to NCLT and other regulatory approvals.
- Appointed Date for the scheme is April 1, 2026.
- Unaudited financial results for Q2 FY27 approved.
- No 'No Objection Letter' required from stock exchanges.
Price Impact
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