Narbada Gems and Jewellery Ltd (NGJL) has completed a major restructuring with Uday Jewellery Industries Limited (UJIL).
Merger details:
Merging entities: Narbada Gems and Jewellery Ltd (NGJL) & Uday Jewellery Industries Limited (UJIL).
Appointed date: April 1, 2024.
Share exchange ratio: Narbada Gems and Jewellery will receive 4,623 equity shares of Uday Jewellery for every 10,000 equity shares they hold in Narbada (a ratio of 0.4623).
Record date: February 27, 2026, for the allotment of new shares.
Legal approval: The merger received approval from the Hyderabad Bench, Hyderabad
National Company Law Tribunal (NCLT) on January 21, 2026.
Impact of the merger:
Dissolution of Narbada: Narbada Gems and Jewellery Ltd (NGJL) has been dissolved and is no longer a separate entity and Uday Jewellery Industries Limited (UJIL) will continue as the listed entity.
This consolidation merges two entities with a common promoter group (Hanumanth Rai Sanghi Group)