Scan Projects Limited, Chanderpur Industries Private Limited Merger: EGM Scheduled for July 2026

Scan Projects Limited, Chanderpur Industries Private Limited Merger: EGM Scheduled for July 2026​

A significant strategic move in the industry is underway as Scan Projects Limited (SPL) and Chanderpur Industries Private Limited (CIPL) have announced an Extra Ordinary General Meeting (EGM) to seek approval for a comprehensive Scheme of Arrangement (Merger). The merger aims to combine the capabilities of both companies, leveraging SPL's market presence with CIPL's advanced manufacturing base.

The EGM is scheduled for Saturday, July 18, 2026, at 11:30 AM IST. The meeting will be held in a Hybrid Mode, allowing participation through physical attendance at the registered office in Kanjnu, Haryana, as well as via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

Key Details of the Merger and Companies​

The Scheme involves the amalgamation of Chanderpur Industries Private Limited with into Scan Projects Limited. Upon completion of the merger process, CIPL will be dissolved without winding up, and the combined entity is expected to benefit from streamlined operations and increased financial strength.

The following table outlines key corporate details and financial standing of both participating companies prior to the proposed amalgamation:

Strategic Rationale and Benefits​

The merger is positioned as a strategic alignment intended to achieve operational efficiency and enhance market competitiveness. As both companies belong to the same promoter group and operate under common management, the proposed amalgamation aims to unlock multi-dimensional business opportunities.

Key benefits cited for the Scheme include:

• Operational Synergies: Combining resources to reduce overhead costs through shared services, streamlined operations, and economies of scale.
• Enhanced Capabilities: SPL will gain access to CIPL's advanced manufacturing capabilities, including specialized workshops equipped with cutting-edge technologies like CNC horizontal borers and vertical turning lathes, significantly improving product offerings.
• Financial Strengthening: The merger is expected to improve the financial stability of the combined entity and provide enhanced access to capital markets for SPL.
• Regulatory Simplification: The consolidation will simplify compliance obligations by eliminating two separate corporate entities.

Share Exchange and Key Terms​

A central element of the Scheme is the agreed-upon consideration structure. Shareholders of the Transferor Company (CIPL) are set to receive three equity shares of Scan Projects Limited for every one equity share held in CIPL, based on the approved Share Exchange Ratio.

The merger process includes several stipulated key terms and timelines:

• Appointed Date: April 01, 2026.
• Valuation & Fairness: The merger was underpinned by a Joint Valuation Report and a Fairness Opinion report, both issued on September 18, 2025.
• Stakeholder Protection: A key aspect of the Scheme is that it does not involve any reduction in the amount payable to creditors of either company post-sanction.

Regulatory Observations and Next Steps​

The companies have disclosed adherence to necessary regulatory checks. The EGM notice provides extensive information regarding corporate structure, finances, and operational rationale, making all relevant documents available for inspection at the Registered Office prior to the meeting date.

The EGM is designed to receive approval from shareholders on the proposed merger, with the subsequent successful completion of the scheme being subject to final sanction by the National Company Law Tribunal (NCLT).

Stock Price Movement​

As of 14:29, Scan Projects Ltd is slipping down, currently valued at ₹126.55 after a decline of 4.99%. The shares have traded within a notable intraday range, moving between a low of ₹126.55 and a high of ₹133.20.