Sigma Advanced Systems Limited (formerly Megasoft Limited) has successfully completed its amalgamation process with Sigma Advanced Systems Private Limited, marking a significant milestone in the company's corporate restructuring journey. The Board of Directors approved the allotment of 10.25 crore equity shares and several other strategic decisions during their meeting held on January 16, 2026.

Share Allotment and Capital Structure

The company has allotted 10,24,69,664 fully paid equity shares of ₹10.00 each to shareholders of Sigma Advanced Systems Private Limited pursuant to the approved scheme of amalgamation. This allotment significantly expands the company's equity base and completes the merger process that had received regulatory approvals.

Board Strengthening and Leadership

The Board appointed Mr. Raju Somashekar Baggavalli as Additional Director (Non-Executive, Independent) effective January 16, 2026. Lt Gen Baggavalli brings nearly four decades of senior leadership experience, having served as Vice Chief of the Army Staff and Director General of Military Operations. His extensive background in governance, strategic decision-making, and organizational leadership at national security levels adds significant value to the Board's oversight capabilities.

Corporate Identity and Office Relocation

The company has formalized its transformation from Megasoft Limited to Sigma Advanced Systems Limited, updating all corporate communications and digital presence. The registered office has been relocated from Kutchery Road, Mylapore, Chennai to Prestige Palladium, Nungambakkam, Chennai, while the corporate office has shifted to Hardware Park, Srisailam Road, Hyderabad.

The successful completion of this amalgamation process demonstrates the company's commitment to strategic growth and operational efficiency. The expanded equity base, strengthened Board composition, and updated corporate infrastructure position Sigma Advanced Systems for its next phase of business development.

Megasoft Limited has announced significant corporate developments following its Board meeting held on January 2, 2026, including the approval of a major amalgamation scheme with Sigma Advanced Systems Private Limited and key structural changes to the organization.

NCLT Approval and Amalgamation Details

The Board has received the certified true copy of the order dated December 16, 2025, passed by the Hon'ble National Company Law Tribunal, Chennai Bench, sanctioning the Scheme of Amalgamation between Sigma Advanced Systems Private Limited (Transferor Company) and Megasoft Limited (Transferee Company). The scheme became effective on December 31, 2025, with an appointed date of April 1, 2024.

Share Exchange and Corporate Restructuring

Under the amalgamation scheme, shareholders of Sigma Advanced Systems Private Limited will receive 316 fully paid equity shares of face value ₹10.00 each of Megasoft Limited for every 100 fully paid equity shares held in the transferor company. The record date for determining eligible shareholders has been set as Wednesday, January 14, 2026.

As part of the restructuring, the company will undergo a name change to 'Sigma Advanced Systems Limited' and consolidate its authorized share capital to ₹250.00 crores, comprising 25.00 crore equity shares of ₹10.00 each.

Subsidiary and Associate Companies

Following the amalgamation's effectiveness, the Board has noted the addition of new subsidiary and associate companies from the appointed date of April 1, 2024:

Corporate Guarantees Approved

The Board has approved extending corporate guarantees for three UK-based entities on behalf of Nasmyth Group. These guarantees represent contingent liabilities for the company but carry no immediate financial impact:

Compliance and Governance Updates

The Board has addressed compliance matters related to SEBI LODR Regulations 2015, particularly regarding minimum Board constitution requirements. The company has paid the necessary fine for non-compliance during the quarter ended September 30, 2025, and management has been advised to ensure ongoing compliance with SEBI LODR Regulations.

The Board meeting commenced at 2:30 PM and concluded at 3:30 PM on January 2, 2026, with all resolutions being duly approved and documented for regulatory compliance.