Uday Jewellery Promoters Acquire 73.34 Lakh Shares Through Merger Scheme

Uday Jewellery Industries Limited has completed a substantial acquisition of 73,34,305 equity shares by its promoter group through the scheme of amalgamation with Narbada Gems and Jewellery Limited. The acquisition was disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Promoter Group Acquisition Details

The promoter group, led by Managing Director Ritesh Kumar Sanghi, acquired shares worth INR 10/- each through the merger scheme. The acquisition increased the collective holding of promoters and persons acting in concert from 74.91% to 74.93% of the total share capital.

Promoter Name:	Shares Acquired	Post-Acquisition Holding	Percentage
Ritesh Kumar Sanghi:	11,59,679	58,12,471	17.30%
Sanjay Kumar Sanghi:	11,47,166	56,65,422	16.86%
Sarala Sanghi:	9,92,696	14,87,896	4.43%
Tejas Sanghi:	9,96,728	22,34,648	6.65%
Uday Sanghi:	9,96,728	22,34,647	6.65%

Share Capital Transformation

The merger resulted in a significant expansion of the company's equity base. The total equity share capital increased from INR 23,82,19,000 to INR 33,60,29,250, representing an addition of 97,81,025 equity shares of INR 10/- each.

Parameter:	Before Acquisition	After Acquisition
Equity Share Capital:	INR 23,82,19,000	INR 33,60,29,250
Number of Shares:	2,38,21,900	3,36,02,925
Total Diluted Capital:	-	INR 34,05,29,250
Diluted Share Count:	-	3,40,52,925

Regulatory Compliance

The acquisition was completed on March 5, 2026, through the allotment of equity shares pursuant to the scheme of arrangement. All promoter entities, including Sanghi Jewellers Private Limited and Hanumanthrai Sanghi HUF, participated in the acquisition process. The company maintains its listing on BSE Limited with scrip code 539518.

Corporate Restructuring Impact

This substantial acquisition represents the final phase of the amalgamation between Narbada Gems and Jewellery Limited (transferor company) and Uday Jewellery Industries Limited (transferee company). The merger has consolidated the promoter group's control while expanding the company's operational scale and market presence in the jewellery sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.77%	+4.47%	+1.90%	-21.46%	-15.94%	+16.94%

Uday Jewellery Industries Limited has provided updated information regarding the resignation of Mr. Sachin Upadhyaya, Company Secretary and Compliance Officer of Narbada Gems & Jewellery Limited, following the completion of their amalgamation scheme. The latest disclosure was made to BSE Limited on March 05, 2026, providing clarification on the effective resignation date.

Amalgamation Completion and INC-28 Filing

The company has filed Form INC-28 with the Registrar of Companies to give effect to the Scheme of Arrangement for Amalgamation between Narbada Gems and Jewellery Limited (Transferor Company) and Uday Jewellery Industries Limited (Transferee Company). This corporate restructuring was executed under Sections 230-232 of the Companies Act, 2013.

Parameter:	Details
Transferor Company:	Narbada Gems & Jewellery Limited
Transferee Company:	Uday Jewellery Industries Limited
INC-28 Filing Date:	February 19, 2026
Legal Framework:	Companies Act 2013, Sections 230-232
Regulatory Compliance:	SEBI Listing Regulations, Regulation 30

Updated Resignation Details

Following the INC-28 filing, the company has requested that the effective date of Mr. Sachin Upadhyaya's resignation be considered as February 19, 2026, being the date of filing of INC-28 and the date on which the scheme became effective. The Transferor Company has been amalgamated with the Transferee Company and consequently ceases to exist upon the scheme becoming effective.

Detail:	Information
Resigning Official:	Mr. Sachin Upadhyaya
Position:	Company Secretary & Compliance Officer
Original Resignation Letter Date:	February 03, 2026
Effective Resignation Date:	February 19, 2026
Reason:	Amalgamation and dissolution of Transferor Company

Corporate Communication and Compliance

The formal disclosure to BSE Limited was signed by Ritesh Kumar Sanghi, Managing Director of Uday Jewellery Industries Limited, bearing director identification number 00628033. The communication emphasized that Mr. Upadhyaya tendered his resignation due to the amalgamation and consequent dissolution of the Transferor Company by operation of law.

Regulatory Framework

The updated disclosure fulfills the company's obligations under SEBI Listing Regulations, ensuring transparency in corporate governance matters. The company has completed all necessary statutory filings and intimations as required under relevant provisions of the Companies Act, 2013, with the scheme becoming effective upon the INC-28 filing date.