Royal Cushion Vinyl Products: Promoter Shareholding Increases Post-Merger

Royal Cushion Vinyl Products Limited has disclosed an increase in promoter and promoter group shareholding following the amalgamation of Royal Spinwell and Developers Private Limited. The National Company Law Tribunal (NCLT) approved the scheme, leading to the allotment of 41,17,160 equity shares of Royal Cushion Vinyl Products to eligible shareholders of Royal Spinwell. This allotment was made in a ratio of 7,807 shares of Royal Cushion Vinyl Products for every 19 shares of Royal Spinwell. The company is exempt from making an open offer under SEBI Takeover Regulations due to this merger, as per Regulation 10(1)(d)(ii).