Description
NCLT approves merger of Indiabulls Enterprises Ltd into Yaari Digital Integrated Services Limited with record date of October 28, 2025. Trading to be suspended from the record date.
Summary
The National Company Law Tribunal (NCLT), Chandigarh Bench has approved the Scheme of Arrangement for the amalgamation of Indiabulls Enterprises Ltd (IEL) into Yaari Digital Integrated Services Limited (YAARI). The record date has been fixed as October 28, 2025, and trading in Indiabulls Enterprises Ltd shares will be suspended from this date. Shareholders of Indiabulls Enterprises Ltd will receive 110 equity shares of Yaari Digital (Rs. 2/- each) for every 100 equity shares held in IEL (Rs. 2/- each).
Key Points
- NCLT Chandigarh Bench has approved the merger of Indiabulls Enterprises Ltd (Amalgamating Company) into Yaari Digital Integrated Services Limited (Amalgamated/Resulting Company)
- Record date fixed: October 28, 2025
- Trading in Indiabulls Enterprises Ltd (Scrip Code: 543715) will be suspended with effect from October 28, 2025
- Share swap ratio: 110 equity shares of Yaari (Rs. 2/- each fully paid-up) for every 100 equity shares of IEL (Rs. 2/- each fully paid-up)
- Trading members are advised not to deal in Indiabulls Enterprises Ltd equity shares from the record date
- Circular reference: DR-744/2025-2026
Regulatory Changes
The NCLT has approved the Scheme of Arrangement under corporate restructuring provisions. Upon the scheme becoming operative, Indiabulls Enterprises Ltd will cease to exist as a separate entity and will be merged into Yaari Digital Integrated Services Limited.
Compliance Requirements
- Trading members must not deal in Indiabulls Enterprises Ltd equity shares with effect from October 28, 2025
- Trading members are required to take note of the amalgamation scheme and record date
- All systems and records must be updated to reflect the trading suspension
Important Dates
- Notice Date: October 24, 2025
- Record Date: October 28, 2025
- No Dealings From: October 28, 2025 (trading suspension effective date)
Impact Assessment
High Impact on Shareholders: All existing shareholders of Indiabulls Enterprises Ltd will compulsorily receive shares of Yaari Digital Integrated Services Limited at a ratio of 110:100, representing a 10% premium in share count. This is a material corporate action affecting shareholder holdings.
Trading Impact: Complete suspension of trading in Indiabulls Enterprises Ltd shares from October 28, 2025. Investors holding positions must be aware that no further trading will be possible after this date.
Operational Impact: Trading members and brokers must update their systems to prevent any trades in the suspended scrip and ensure proper processing of the share swap for their clients.
Impact Justification
Complete merger resulting in trading suspension of Indiabulls Enterprises Ltd shares and mandatory share swap for all shareholders with immediate effect from October 28, 2025.