Divine Power Energy modifies amalgamation scheme with Viraj Upkram
Divine Power Energy Limited’s board approved modifications to the Scheme of Amalgamation with Viraj Upkram Private Limited on June 19, 2026. The revisions include updating Para 13.3 to incorporate the Transferor Company's objects and correcting clerical errors. The board confirmed that these changes do not affect the commercial terms, share exchange ratio, or implementation mechanism.
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Divine Power Energy Limited’s board has approved modifications to the Scheme of Amalgamation with Viraj Upkram Private Limited. The decision was taken during a board meeting held on June 19, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The modifications aim to refine the object clauses and correct minor errors without altering the commercial terms of the merger.
The board approved revisions to Para 13.3 of the Scheme. This clause now states that the object clause of the Transferee Company is substantially similar to and encompasses the objects of the Transferor Company. Upon the Scheme becoming effective, the main objects of the Transferor Company will be added to the Transferee Company’s memorandum to the extent they are not already covered. The board clarified that shareholder consent to the Scheme will be sufficient for this amendment, requiring no separate resolutions under Section 13 of the Companies Act, 2013.
Additionally, the board approved clerical and typographical corrections within the document. These include the correction of an address appearing on page 4 (Clause 2.2 (d)) and page 33 (Clause 17) of the Scheme. The board noted that these modifications do not impact the meaning, intent, commercial understanding, rights, obligations, consideration, share exchange ratio, or the overall implementation mechanism of the Scheme.
The revised Scheme, as reviewed and approved by the board, will be submitted to the stock exchanges and other regulatory authorities. It will also be available on the company’s website at www.dpel.in . The meeting, held at the company’s offices in Surajmal Vihar, Delhi, commenced at 04:00 PM and concluded at 05:00 PM.
Key Modifications Approved
| Aspect | Details |
|---|---|
| Object Clause (Para 13.3) | Revised to incorporate objects of Transferor Company into Transferee Company upon effectiveness of the Scheme. |
| Clerical Corrections | Address corrections on page 4 (Clause 2.2 (d)) and page 33 (Clause 17). |
| Commercial Impact | No change to share exchange ratio, consideration, or implementation mechanism. |
Historical Stock Returns for Divine Power Energy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.91% | -0.77% | -5.06% | +83.53% | +251.69% | +218.32% |
What is the expected timeline for receiving regulatory approval from stock exchanges and other authorities following this submission?
How will the integration of the Transferor Company's objects into the Transferee Company's memorandum impact Divine Power Energy's long-term business strategy?
When is the shareholder vote scheduled to approve the Scheme, and what level of shareholder approval is anticipated?
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