NCLT Approves Amalgamation Schemes for Archidply Industries Ltd' Promoter Group Entities
Archidply Industries Ltd. has received intimation regarding the approval of two Schemes of Amalgamation within its promoter group from the National Company Law Tribunal (NCLT), Guwahati Bench. The schemes involve restructuring two separate groups of promoter entities.The two amalgamation schemes approved by the NCLT are:
1. Ravi Marketing and Services Private Limited merging with Assam Timber Products Private Limited.
2. Vanraj Suppliers Private Limited merging with Shree Shyam Tea Private Limited.
These transactions are designed to consolidate shareholding within the promoter group.
Structure and Shareholding Consolidation
The successful implementation of the schemes will result in the following changes regarding shareholding:| Scheme Involved | Entity Losing Shareholding | Entity Receiving Shareholding |
|---|---|---|
| Scheme 1 | Ravi Marketing and Services Private Limited | Assam Timber Products Private Limited |
| Scheme 2 | Vanraj Suppliers Private Limited | Shree Shyam Tea Private Limited |
Impact on Archidply Industries Ltd.
Archidply Industries Ltd. stated that the restructuring is strictly internal to the promoter group. The company confirmed that there will be no change in the overall promoter group shareholding, nor will there be any alteration in the control or management structure of the company.The effectiveness of these amalgamation schemes is contingent upon the filing of the certified copy of the NCLT order with the Registrar of Companies. Archidply Industries Ltd. plans to submit the revised shareholding pattern reflecting these changes to the Stock Exchanges within the prescribed timelines after the schemes become effective.
ARCHIDPLY Stock Price Movement
Today, Archidply Industries Limited shares slipped by 3.08% to settle at ₹77.35, closing significantly lower from its previous close. The stock saw 28,275 shares traded today, indicating selling pressure throughout the session.Source:
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