Dr. Agarwals Health Care544350Scheme implementation

Merger scheme effective November 01, 2026; record date November 18, 2026 for 23-for-2 share swap

NCLT Chennai order sanctioning the merger of Dr. Agarwal's Eye Hospital into Dr. Agarwal's Health Care is on record; conditions under Clause 24 of the Scheme are satisfied.

By ScoutQuest · Tue 20 Oct 2026, 6:52 PM IST · 2 min read

110,00,00,000/-+22.2%

Before90,00,00,000/-After110,00,00,000/-

Authorised share capital the Scheme: 90,00,00,000/- (Before) and 110,00,00,000/- (After).

Share Swap Ratio: 23 equity shares of ₹1 each of Dr. Agarwal's Health Care for every 2 equity shares of ₹10 each of Dr. Agarwal's Eye Hospital
Record Date: November 18, 2026
Scheme Effective / Appointed Date: Effective November 01, 2026; appointed date April 01, 2026

The Board of Dr. Agarwal's Health Care Limited met on October 20, 2026 and approved a set of steps that move its amalgamation with Dr. Agarwal's Eye Hospital Limited from an approved scheme to an operative one.

What was taken on record

The certified copy of the NCLT, Chennai Bench order dated September 30, 2026 sanctioning the Scheme.
The update of that certified copy in Form INC-28 with the Registrar of Companies, Chennai, on October 15, 2026, which the Board noted satisfies all conditionalities under Clause 24 of the Scheme.

Dates to note

Effective Date: the Scheme becomes effective and operative from November 01, 2026.
Appointed Date: April 01, 2026.
Record Date: November 18, 2026, fixed by the transferee company's Board in consultation with the transferor company's Board, to decide which equity shareholders of Dr. Agarwal's Eye Hospital Limited are eligible for consideration shares.

Share swap ratio

23 fully paid-up equity shares of face value of ₹1 each of Dr. Agarwal's Health Care Limited for every 2 fully paid-up equity shares of face value of ₹10 each held in Dr. Agarwal's Eye Hospital Limited.

Authorised share capital, before the Scheme

54.2 crore equity shares of INR 1 each, aggregating ₹54,20,00,000/-.
35,80,000 fully and compulsorily convertible non-cumulative participating preference shares of INR 100 each, aggregating ₹35,80,00,000/-.
Total: ₹90,00,00,000/-.

Authorised share capital, after the Scheme

The transferor company's existing authorised capital of 2 crore equity shares of face value of ₹10 each stands reclassified into 20 crore equity shares of face value of ₹1 each.
That reclassified capital of ₹ 20 crore automatically combines and merges with the transferee company's authorised capital, with no further act or deed required.
The transferee company then holds 74.2 crore equity shares of INR 1 each, aggregating ₹74,20,00,000/-, plus 35,80,000 preference shares of INR 100 each, aggregating ₹35,80,00,000/-.
Total: ₹110,00,00,000/-.

How to read this as a shareholder

Authorised share capital is the ceiling up to which a company may issue shares; it is not the same as issued capital. This update sets out that ceiling and how it changes, not how many shares the merged entity will actually have outstanding.
The record date of November 18, 2026 is the cut-off used to list shareholders of Dr. Agarwal's Eye Hospital Limited who will receive shares of Dr. Agarwal's Health Care Limited in the 23-for-2 ratio.
The appointed date of April 01, 2026 is the accounting date from which the two businesses are treated as combined, while November 01, 2026 is the date the Scheme becomes operative.

Overall, the update records completion of the approval and registry steps for the Scheme and fixes the dates that decide who receives the consideration shares and in what ratio.

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