Citizen Infoline Ltd. Completes Merger, Renamed to Citizen Solar Limited
Citizen Infoline Ltd. announced on April 4, 2026, that its Board of Directors approved several key resolutions following a meeting held on April 3, 2026. A central development was the formal receipt of an order from the National Company Law Tribunal (NCLT) Ahmedabad Bench, sanctioning the Scheme of Arrangement for the amalgamation of Citizen Solar Private Limited (the transferor company) and Citizen Infoline Limited (the transferee company).The board also acknowledged a change in the company’s name from Citizen Infoline Limited to Citizen Solar Limited, effective following the NCLT’s approval.
As part of the amalgamation process, the company established March 31, 2026, as the record date for determining eligible shareholders entitled to receive equity shares of the transferee company.
The authorized share capital of the transferee company, Citizen Solar Limited, has increased to ₹155,00,00,000 (₹155 Crore), divided into 15,50,000 equity shares with a face value of ₹10 each.
Furthermore, the Board approved the allotment of 86,46,000 equity shares, each with a value of ₹10, to eligible shareholders of the transferor company as of the record date of March 31, 2026.
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