Merger23 Sept 2026, 07:30 pm
Ravindra Energy Board Approves Amalgamation Scheme
AI Summary
Ravindra Energy Limited announced that its Board of Directors has approved a Scheme of Amalgamation of Energy In Motion Limited with Ravindra Energy Limited. The amalgamation is subject to various statutory, regulatory, and customary approvals, including those from stock exchanges, SEBI, the National Company Law Tribunal, and shareholders/creditors. The company also disclosed financial details for both entities as of June 30, 2026, and March 31, 2026, noting that the transferee company holds 49.54% of the transferor company's share capital. The consideration for the amalgamation will be discharged on an 'arm's length' basis.
Key Highlights
- Board approved amalgamation of Energy In Motion Limited with Ravindra Energy Limited.
- Scheme requires approvals from regulatory bodies and shareholders.
- Transferee company holds 49.54% of transferor company's shares.
- Amalgamation consideration will be on an 'arm's length' basis.
- Financials for both entities disclosed for recent periods.
Price Impact
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