Merger25 Mar 2026, 10:23 am
NCLT Approves Sumuka Agro Industries-Gujjubhai Foods Merger with Share Exchange Ratio of 7:4
AI Summary
The National Company Law Tribunal, Mumbai bench, has approved the merger of Gujjubhai Foods Private Limited with Sumuka Agro Industries Limited. The scheme was effective from February 23, 2026, and Sumuka Agro Industries Limited has issued and allotted 1,38,13,666 equity shares to the equity shareholders of Gujjubhai Foods Private Limited. The acquisition aggregating to Rs. 20,92,08,360/- has resulted in a total diluted share/voting capital of the TC after the said acquisition of Rs. 20,92,08,360/-.
Key Highlights
- NCLT approves the merger of Gujjubhai Foods Private Limited with Sumuka Agro Industries Limited.
- The merger scheme was effective from February 23, 2026.
- Sumuka Agro Industries Limited has issued and allotted 1,38,13,666 equity shares to the equity shareholders of Gujjubhai Foods Private Limited.
- The acquisition aggregating to Rs. 20,92,08,360/- has resulted in a total diluted share/voting capital of the TC after the said acquisition of Rs. 20,92,08,360/-.
- The share exchange ratio was set out in clause 13.1 of the Scheme i.e. 7 (Seven) fully paid up equity share of the face value Rs. 10 (Ten) each of the Transferee Company for every 4 (Four) fully paid equity share of the face value of Rs. 10 (Ten) each held by the shareholders of Transferor Company.