Key Details
- Date of Receipt: June 25, 2026
- Communication Reference: BSE letter reference No. DCS/AMAL/R37/BW/125/2026-27 dated June 23, 2026
- Subject: Draft Scheme of Amalgamation of Emazing Deals Limited (Transferor Company) with Kaiser Corporation Limited (Transferee Company) under Sections 230-232 of the Companies Act, 2013
Regulatory Observations
BSE Limited examined the scheme and found it non-compliant with paragraph (A)(3)(b) of Part-I of the SEBI Master Circular dated June 20, 2023. Specifically, the proposed scheme does not meet the requirement that the percentage of shareholding of pre-scheme public shareholders of the listed entity and Qualified Institutional Buyers (QIBs) of the unlisted entity in the post-scheme shareholding pattern of the merged company (on a fully diluted basis) must not be less than 25%.
Actions Taken
- BSE Limited has returned the scheme to Kaiser Corporation Limited
- The company is currently examining the observations made by BSE
- The company will take appropriate steps in consultation with its advisors
Refiling Conditions
If the scheme is refiled within ninety (90) days from the date of BSE's letter (June 23, 2026), no processing fees shall be applicable.
Financial Impact
Financial impact not quantified in the disclosure.
Future Communications
The company will intimate the stock exchange of any further material developments regarding this matter.