Description
NCLT approves merger of Indiabulls Enterprises Ltd into Yaari Digital Integrated Services Limited with share swap ratio of 110:100. Trading halted from October 28, 2025.
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 for determining shareholder entitlement has been set as October 28, 2025. Trading in Indiabulls Enterprises Ltd equity shares will be halted with effect from October 28, 2025. Shareholders of IEL will receive 110 equity shares of Yaari (Rs. 2/- each) for every 100 equity shares of IEL (Rs. 2/- each) held.
Key Points
- NCLT Chandigarh Bench has approved the merger of Indiabulls Enterprises Ltd into Yaari Digital Integrated Services Limited
- Indiabulls Enterprises Ltd is the Amalgamating Company
- Yaari Digital Integrated Services Limited is the Amalgamated/Resulting Company
- Share swap ratio: 110 equity shares of Yaari for every 100 equity shares of IEL
- Trading Members are advised not to deal in IEL equity shares from October 28, 2025
- Circular reference: DR-744/2025-2026
Regulatory Changes
This amalgamation is executed pursuant to the Scheme of Arrangement approved by NCLT under the Companies Act provisions for corporate restructuring. The scheme provides the legal framework for the merger and share exchange mechanism between the two entities.
Compliance Requirements
- Trading Members must cease all dealings in Indiabulls Enterprises Ltd (Scrip Code: 543715) equity shares with effect from October 28, 2025
- The exchange will implement the trading halt to ensure orderly execution of the amalgamation scheme
- Yaari Digital Integrated Services Limited will issue and allot new equity shares to IEL shareholders as per the approved swap ratio
Important Dates
- October 24, 2025: Circular issued
- October 28, 2025: Record date for determining shareholder entitlement
- October 28, 2025: No dealings in IEL equity shares from this date onwards
Impact Assessment
Impact on Shareholders: IEL shareholders will receive 110 Yaari shares (Rs. 2/- each, fully paid-up) for every 100 IEL shares (Rs. 2/- each, fully paid-up) held on the record date, representing a 10% premium in share count.
Trading Impact: Complete cessation of trading in Indiabulls Enterprises Ltd shares from the record date. Investors holding IEL shares will need to transition to holding Yaari shares post-amalgamation.
Market Impact: High impact event affecting all IEL shareholders and market participants dealing in either security. The trading halt ensures no market disruption during the corporate restructuring process.
Operational Impact: Trading members must update their systems and client portfolios to reflect the amalgamation and ensure no inadvertent trades occur in the halted security.
Impact Justification
Complete merger affecting shareholders of both companies with mandatory trading halt and share swap arrangement approved by NCLT