Description
MEDINOVA DIAGNOSTIC SERVICES LTD to merge into VIJAYA DIAGNOSTIC CENTRE LTD with shareholders receiving 1 equity share for every 22 shares held. Trading in MEDINOVA shares suspended from November 25, 2025.
Summary
BSE has announced the amalgamation of MEDINOVA DIAGNOSTIC SERVICES LTD (Scrip Code: 526301) into VIJAYA DIAGNOSTIC CENTRE LTD as approved by the Hon’ble National Company Law Tribunal (NCLT), Hyderabad Bench. Trading in MEDINOVA DIAGNOSTIC SERVICES LTD equity shares will be suspended from November 25, 2025. Shareholders of MEDINOVA will receive equity shares in VIJAYA DIAGNOSTIC CENTRE LTD based on the approved share exchange ratio.
Key Points
- MEDINOVA DIAGNOSTIC SERVICES LTD (Transferor Company) merging into VIJAYA DIAGNOSTIC CENTRE LTD (Transferee Company)
- Scheme of Amalgamation approved by NCLT, Hyderabad Bench
- Share exchange ratio: 1 equity share of VIJAYA (face value Re. 1) for every 22 equity shares of MEDINOVA (face value Rs. 10)
- Record date set for November 25, 2025
- Trading members advised not to deal in MEDINOVA shares from November 25, 2025
- Notice number: DR-763/2025-2026
Regulatory Changes
No new regulatory changes. This circular implements an NCLT-approved scheme of amalgamation under existing corporate law framework. The merger follows standard corporate restructuring procedures with court approval.
Compliance Requirements
- Trading Members: Must not execute any deals in MEDINOVA DIAGNOSTIC SERVICES LTD equity shares with effect from November 25, 2025
- Shareholders: No action required; entitlement to VIJAYA shares will be determined automatically based on holdings as of the record date
- Exchange: Will suspend trading in MEDINOVA shares from the specified date
Important Dates
- Notice Date: November 18, 2025
- Record Date: November 25, 2025 - Date for determining entitlement of MEDINOVA shareholders to receive VIJAYA shares
- No Dealings From: November 25, 2025 - Trading suspension effective date
Impact Assessment
High Impact on MEDINOVA Shareholders: All equity shareholders will be subject to mandatory share exchange at the ratio of 1:22. Existing MEDINOVA shares (face value Rs. 10) will be replaced with VIJAYA shares (face value Re. 1).
Trading Suspension: Complete cessation of trading in MEDINOVA shares from November 25, 2025, making the stock illiquid from that date.
Market Consolidation: This merger consolidates two diagnostic services companies, with MEDINOVA ceasing to exist as a separate legal entity.
Shareholder Dilution: MEDINOVA shareholders will receive significantly fewer shares in absolute numbers (1 for every 22 held), though the relative value depends on the market prices of both companies’ shares.
Impact Justification
Complete merger of companies with mandatory share exchange affecting all MEDINOVA shareholders and cessation of trading