Board approves allotment of 83,60,000 equity shares under NCLT-approved amalgamation scheme
Board approved allotment of 83,60,000 equity shares of INR 1/- each to shareholders of Kirti Investments Ltd under the NCLT-approved amalgamation scheme.
By ScoutQuest · · 2 min read
- Equity Shares Allotted
- 83,60,000 equity shares of INR 1/- each to shareholders of Kirti Investments Ltd
- Crossholding Shares Cancelled
- 2,98,000 crossholding shares stand cancelled
- Paid-up Capital Change
- rises from 30,00,000 to 1,10,62,000 equity shares of INR 1/- each
The board of the company met on 13th October, 2026 and approved, and took on record, the allotment of equity shares to give effect to Part III of a Scheme of Arrangement and Amalgamation.
Scheme background
- Kirti Investments Limited is the Transferor Company and the company is the Transferee Company.
- The Scheme was approved by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, by order dated April 06, 2026.
- The Record Date fixed for the purpose was September 18, 2026.
What was allotted
- 83,60,000 equity shares of INR 1/- each were allotted to the members of Kirti Investments Limited whose names appear in its register of members, or in the records of the depositories or the Registrar and Share Transfer Agent, as on the Record Date.
- These shares rank pari passu in all respects with the existing equity shares of the company.
- 2,98,000 equity shares arising from the entitlement of Kirti Investments Limited on account of its crossholding in the company stand cancelled in accordance with the Scheme.
How the share capital changes
- Issued, subscribed and paid-up capital before the allotment: 30,00,000 equity shares of INR 1 each, value 30,00,000.
- Issued, subscribed and paid-up capital after the allotment: 1,10,62,000 equity shares of INR 1 each, value 1,10,62,000.
What this means in simple terms
- The company now has a much larger number of equity shares, moving from 30,00,000 to 1,10,62,000 shares of INR 1 each.
- The new shares are issued to the shareholders of the transferor company as part of the amalgamation, not against a fresh cash subscription.
- Because the share count rises while the cancelled 2,98,000 shares reduce it, each existing share represents a smaller proportionate slice of the company's equity than before.
- The allotment is the step that gives effect to the already approved Scheme, and the shares allotted carry the same rights as existing shares.
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Board approves allotment of 83,60,000 equity shares for amalgamation; 2,98,000 shares cancelled
13 Oct 2026
More numbers
- Equity shares allotted to members of Transferor Company83,60,000
- Equity shares cancelled on account of crossholding2,98,000
- Face value per equity shareINR 1/-
- Issued, subscribed and paid-up capital before allotment (number of shares)30,00,000
- Issued, subscribed and paid-up capital before allotment (value)30,00,000
- Issued, subscribed and paid-up capital after allotment (number of shares)1,10,62,000
- Issued, subscribed and paid-up capital after allotment (value)1,10,62,000
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