Merger1 May 2026, 05:11 pm
R Systems: Velotio & Scaleworx Amalgamation Scheme Effective
AI Summary
R Systems International Ltd. announces the Composite Scheme of Amalgamation of Velotio Technologies Private Limited and Scaleworx Technology Private Limited with R Systems International Limited has become effective from May 1, 2026, following sanction by the National Company Law Tribunal and filing with the Registrar of Companies. The scheme includes amendments to the Memorandum and Articles of Association, increasing the authorized share capital to ₹20.70 Cr and incorporating terms for optionally convertible redeemable preference shares (OCRPS). The Board will consider the allotment of OCRPS on May 6, 2026.
Key Highlights
- Amalgamation scheme of Velotio & Scaleworx with R Systems becomes effective May 1, 2026.
- Transferor companies dissolved without being wound up as per the scheme.
- Authorized share capital increased to ₹20.70 Cr, MOA altered accordingly.
- Articles of Association amended to include terms for OCRPS.
- Board to consider allotment of OCRPS on May 6, 2026.