Belrise Industries Limited announced on November 13, 2026, that its Board of Directors has resolved to rescind and cancel the scheme of amalgamation that was previously approved on November 11, 2025. This decision withdraws the earlier intimation submitted to the stock exchanges. The company stated that the meeting of the Board of Directors concluded at 5:15 PM IST on the date of the announcement.
Belrise Industries Rescinds Amalgamation Plan
In a significant corporate development, Belrise Industries Limited has officially decided to cancel a previously approved scheme of amalgamation. The company’s Board of Directors, in a meeting held on Friday, November 13, 2026, passed a resolution to rescind and withdraw the amalgamation scheme. This scheme was originally intended to merge H-One India Private Limited with and into Belrise Industries Limited.
Previous Approval and Withdrawal
The initial approval for this amalgamation scheme was granted by the Board on November 11, 2025. Consequently, the intimation submitted to the stock exchanges on that date regarding the aforesaid scheme now stands withdrawn. The decision to cancel the scheme was made in accordance with the provisions of the Companies Act, 2013.
Meeting Details
The meeting of the Board of Directors commenced at 4:05 PM IST and concluded at 5:15 PM IST on November 13, 2026. This announcement is also available on the company’s investor relations website.
Scheme Details (Previous)
As per the details provided in Annexure-A of the previous filing, H-One India Private Limited was the ‘Transferor Company’ and Belrise Industries Limited was the ‘Transferee Company’. H-One India Private Limited was a wholly-owned subsidiary of Belrise Industries Limited. The turnover, net worth, and net profit as of March 31, 2026, were ₹2,092.60 million, ₹2,077.01 million, and ₹153.99 million, respectively, for the transferor company, and ₹75,283.30 million, ₹50,835.32 million, and ₹4,784.04 million for the transferee company.
The rationale for the original amalgamation was to leverage the existing strengths and capabilities of group entities engaged in similar businesses, create synergies, improve cost management, and streamline operations. It was also noted that the transaction would not fall within related party transactions as per MCA General Circular No. 30/2014. There was no cash or share consideration involved in the original scheme, with the transferor company’s shares being cancelled upon the scheme becoming effective.
Source: BSE
