Uday Jewellery Industries Limited has successfully completed the allotment of 97,81,025 equity shares following its scheme of amalgamation with Narbada Gems and Jewellery Limited. The company informed BSE Limited about the completion of this significant corporate action through an official disclosure under Regulation 30 of SEBI Listing Regulations.

Share Allotment Details

The board of directors, in their meeting held on March 5, 2026, approved the allotment of 97,81,025 fully-paid up equity shares of INR 10/- each to eligible shareholders of the transferor company. The allotment was made to shareholders whose names appeared in the register of members as on the record date of February 27, 2026.

The newly allotted equity shares shall rank pari passu in all respects with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders.

Fractional Share Management

As part of the allotment process, the board also approved the allotment of 3,418 fully paid-up equity shares arising from fractional share entitlements. These shares have been allotted to Mr. Siddharth Goel, Independent Director, who has been appointed as trustee for disposing these fractional entitlements in the market.

The net sales proceeds from the disposal of fractional shares will be distributed to eligible shareholders within 90 days from the date of allotment, in adherence with the scheme and applicable SEBI Master Circular.

Listing and Trading Arrangements

The company has confirmed that it will make necessary applications for listing the allotted equity shares with BSE Limited. However, the newly allotted shares will remain frozen until the stock exchange grants listing and trading permission. This temporary restriction ensures compliance with regulatory requirements during the transition period.

Corporate Restructuring Background

This share allotment represents the culmination of the scheme of arrangement for amalgamation between Narbada Gems and Jewellery Limited (transferor company) and Uday Jewellery Industries Limited (transferee company). The company had previously communicated about the fixation of record date and filing of E-Form INC-28 with the Registrar of Companies to make the scheme effective, as referenced in their earlier letters dated February 12, 2026 and February 19, 2026.

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.

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.

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.