Description
BSE notifies trading members of the NCLT-approved amalgamation of Narbada Gems and Jewellery Ltd (Scrip Code: 519455) into Uday Jewellery Industries Ltd, with a record date of 27 February 2026 and trading suspension effective the same date.
Summary
BSE has informed trading members that the National Company Law Tribunal (NCLT), Hyderabad Bench, has approved a Scheme of Arrangement for the amalgamation of Narbada Gems and Jewellery Ltd (Scrip Code: 519455, Transferor Company) into Uday Jewellery Industries Ltd (Transferee Company). A record date of 27 February 2026 has been fixed to determine shareholder entitlements. Trading in Narbada Gems and Jewellery Ltd equity shares is suspended with effect from 27 February 2026.
Key Points
- NCLT Hyderabad Bench has approved the Scheme of Amalgamation between Narbada Gems and Jewellery Ltd and Uday Jewellery Industries Ltd.
- Narbada Gems and Jewellery Ltd is the Transferor Company (Scrip Code: 519455); Uday Jewellery Industries Ltd is the Transferee Company.
- Share swap ratio: 4,623 fully paid-up equity shares of Uday Jewellery Industries Ltd (face value ₹10/- each) will be issued and allotted for every 10,000 fully paid-up equity shares of Narbada Gems and Jewellery Ltd (face value ₹10/- each) held.
- Record Date for determining shareholder entitlement is 27 February 2026.
- Trading members are advised not to deal in equity shares of Narbada Gems and Jewellery Ltd with effect from 27 February 2026.
- Reference: DR-860/2025-2026.
Regulatory Changes
The amalgamation is effected pursuant to a Court-approved Scheme of Arrangement under the Companies Act. Upon the scheme coming into effect, Narbada Gems and Jewellery Ltd ceases to exist as a separate listed entity and its shareholders receive equity shares of Uday Jewellery Industries Ltd in the prescribed ratio.
Compliance Requirements
- Trading Members must not execute any trades in the equity shares of Narbada Gems and Jewellery Ltd (Scrip Code: 519455) on or after 27 February 2026.
- Members should update their systems and client advisories to reflect the trading suspension.
- Shareholders of Narbada Gems and Jewellery Ltd should ensure their demat holdings are in order before the record date to qualify for the share allotment from Uday Jewellery Industries Ltd.
Important Dates
| Event | Date |
|---|---|
| Circular Issue Date | 24 February 2026 |
| Record Date (Amalgamation Entitlement) | 27 February 2026 |
| Trading Suspension Effective From | 27 February 2026 |
Impact Assessment
Shareholders of Narbada Gems and Jewellery Ltd (519455) will receive 4,623 equity shares of Uday Jewellery Industries Ltd for every 10,000 shares held — an effective swap ratio of approximately 0.4623:1. The trading suspension from 27 February 2026 means there is very limited time (3 calendar days from circular date) for any market transactions in NARBADA shares. Investors holding NARBADA must be aware that liquidity will cease on the record date and positions will be converted per the NCLT-approved scheme. The merger consolidates both entities under Uday Jewellery Industries Ltd.
Impact Justification
Immediate trading suspension effective 27 Feb 2026 directly affects shareholders of Narbada Gems and Jewellery Ltd (519455); share swap ratio defined by NCLT order requires action awareness from all holders.