Ganesh Housing merges subsidiary Gatil Properties to streamline operations

Ganesh Housing Limited's board of directors has approved a scheme of arrangement to merge Gatil Properties Private Limited, a wholly-owned subsidiary, with Ganesh Housing Limited. This decision, made on December 5, 2025, with an appointed date of April 1, 2025, rescinds a previously approved amalgamation scheme from November 6, 2025. The scheme aims to consolidate operational capabilities and resources, leveraging similar business activities between the entities.

The merger involves writing off a debit balance of INR 498.56 Cr in Capital Reserve against the Securities Premium Account. This restructuring will not reduce the transferee company's issued, subscribed, or paid-up share capital, nor will it involve cash outflow or adversely affect stakeholders. Gatil Properties and Ganesh Housing are related parties; however, the Ministry of Corporate Affairs clarifies that such arrangements do not fall under related party transactions.

Upon the scheme's effectiveness, Gatil Properties’ shares held by Ganesh Housing will be canceled without issuing new shares, ensuring no change in Ganesh Housing’s shareholding pattern. The scheme will be submitted to stock exchanges for a "No-objection Letter."