Digispice merger: NCLT hearing set for Sep 17, 2026

Notice publication moves scheme to the next step

Digispice Technologies has moved its proposed amalgamation process forward by publishing the notice of hearing for its company scheme petition on August 14, 2026. The notice relates to the merger of Spice Money into DiGiSPICE Technologies, which the company has described as progressing after the second motion was filed before the National Company Law Tribunal (NCLT). The NCLT, New Delhi Bench, has scheduled the hearing for September 17, 2026. The listing follows an NCLT order dated August 6, 2026, as cited in the company’s disclosure around the hearing notice publication.

This step is procedural, but it matters because it keeps the scheme on track within the tribunal process. Digispice’s earlier guidance, as referenced in the update, is that the merger is expected to conclude by March 2027. Investors have also been tracking the sequence of regulatory and shareholder approvals already completed, including an NCLT-convened shareholder meeting in July 2026.

What the NCLT has scheduled

The New Delhi Bench of the NCLT has fixed September 17, 2026 as the hearing date for the company scheme petition. The schedule is stated to be pursuant to the tribunal’s order dated August 6, 2026. Digispice disclosed the hearing notice publication under Regulation 30 (LODR) as a “Newspaper Publication for notice of hearing of Company Scheme Petition” and linked it to the NCLT order date.

In the public reporting around the development, the hearing notice is framed as bringing the amalgamation closer to completion. The company has positioned the merger as a step that could create a “pure-play listed fintech” once completed, and the expected completion timeline mentioned remains March 2027.

Shareholder approval already recorded

Before the tribunal hearing stage, Digispice’s equity shareholders approved the proposed Scheme of Amalgamation involving Spice Money Limited, E-Arth Travel Solutions Private Limited, and Vikasni Fintech Private Limited. The approval was granted at an NCLT-convened meeting held on July 13, 2026.

The voting outcome was reported as an overwhelming majority, with the resolution passing with 99.9999% of votes in favour. The meeting was convened through video conferencing, and the process was part of the tribunal-led framework for the scheme.

The scheme structure and share exchange ratio

The proposed amalgamation, as outlined in the NCLT-related disclosures, covers four entities in total: DiGiSPICE Technologies as the transferee company and Spice Money, E-Arth Travel Solutions, and Vikasni Fintech as transferor companies. At the first-motion stage, the NCLT found that the required consent thresholds were met, allowing it to dispense with most meetings of shareholders and creditors, while still requiring a meeting of the transferee company’s equity shareholders.

A key term reported in the regulatory flow is the share exchange ratio for Spice Money shareholders. The ratio disclosed is 126 equity shares of Digispice (INR 3 paid-up) for every 100 equity shares of Spice Money (INR 10 paid-up). This exchange ratio is one of the central numerical inputs investors typically track in an amalgamation.

Key orders and appointments during the NCLT process

The NCLT order directing Digispice to convene an equity shareholder meeting is dated April 22, 2026, with an announcement date referenced as April 23, 2026. The order was issued by a bench of Acting President Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi, according to the case summary.

The tribunal appointed Ashutosh Gupta, Advocate, as Chairperson; Suman Kumar Jha, Advocate, as Alternate Chairperson; and CS Aditi Agarwal as Scrutinizer for the shareholder meeting process. The NCLT order also included fees: ₹2.00 lakh for the Chairperson, ₹1.50 lakh for the Alternate Chairperson, and ₹1.00 lakh for the Scrutinizer.

Publications and disclosure trail

Several steps in the process have been accompanied by newspaper publications, consistent with disclosure requirements. For the shareholder meeting, notices were to be published in Financial Express (English, Delhi Edition) and Jansatta (Hindi, Delhi Edition) with at least 30 clear days before the meeting. The company also disclosed that newspaper publications were carried in Financial Express (English, Delhi Edition) and Jansatta (Hindi, Delhi Edition) on June 11, 2026, and that the notice would be available on the websites of NSDL, BSE Limited, and the National Stock Exchange of India Limited.

Separately, the company has also made newspaper publications regarding its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. These results were published on February 14, 2026 in Financial Express and Jansatta, and the company noted availability on its website.

Investor communication: revised conference call joining link

Alongside the merger updates, DiGiSPICE Technologies also issued a revised joining link for a scheduled conference call with investors and analysts to discuss financial results for the first quarter of FY27 (noted in the update as Q1FY26). The event was stated to be set for Friday, August 7, 2026, at 3:00 PM IST.

The revised joining link replaced a previous communication dated August 4, 2026. The company said the purpose was to ensure stakeholders had correct access details for the webinar platform. Access options mentioned include universal dial-in numbers and international toll-free lines, and DiamondPass service registration to avoid wait times, with confirmation emails sent upon registration.

Quick facts table

Dial-in details shared for the conference call

Market impact and what investors can track next

The immediate market relevance of the September 17 hearing is that it provides a visible milestone in the tribunal schedule after shareholders have already approved the scheme. Digispice has also been explicit, through management guidance cited in the update, about an expected completion timeline of March 2027, which sets expectations around process duration.

On pricing, the disclosures and reporting referenced DiGiSPICE Technologies’ live price at ₹17.00 and a stock price of ₹17.79 as of August 11, 2026. While these are point-in-time figures rather than a full performance picture, they indicate the levels at which the market has been valuing the company during the sequence of merger-related updates.

Conclusion

Digispice’s publication of the NCLT hearing notice and the September 17, 2026 hearing date marks the latest procedural step in its merger process with Spice Money and other group entities. With shareholder approval already recorded on July 13 and earlier NCLT directions dating back to April 22, the next confirmed checkpoint is the tribunal hearing, while the stated completion target remains March 2027.