Roselabs Finance merger vote: Oct 9, 2026 swap ratios

What shareholders are being asked to approve

Roselabs Finance Limited (RFL) has scheduled an NCLT-convened meeting of equity shareholders on October 9, 2026 to vote on a Scheme of Merger by Absorption. The proposed scheme involves the merger of Roselabs Finance Limited and National Standard (India) Limited (NSIL) into Lodha Developers Limited (LDL). The company disclosed that the meeting will be conducted through Video Conferencing or Other Audio-Visual Means (VC/OAVM). The shareholder vote follows an order from the National Company Law Tribunal (NCLT) dated August 6, 2026, which directed the convening of the meeting. The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice and explanatory statement are being circulated under Section 230(3) read with Section 102 of the Companies Act, 2013.

NCLT order and the formal process

The August 6, 2026 NCLT order is the trigger for the company to hold the shareholder meeting, as reflected in the disclosure. The meeting is described as “NCLT-convened,” indicating a tribunal-directed process rather than a routine corporate action. Alongside RFL, National Standard (India) Limited is also convening an equity shareholder meeting on the same date to consider and approve the scheme. Lodha Developers Limited has also scheduled an extraordinary general meeting for October 9, 2026 to approve the scheme covering the absorption of RFL and NSIL. The disclosure notes that separate meetings were directed for equity shareholders and secured creditors, and that meetings will be conducted via VC/OAVM.

Meeting date, time, and mode

For National Standard (India) Limited, the disclosed schedule sets the meeting on Friday, October 9, 2026 at 11:00 am (IST). The mode is VC/OAVM, and the company stated it is circulating the notice and supporting documents electronically to equity shareholders. The notice and annexures are also available on the company’s website, as per the disclosure. Similar meeting logistics apply to the NCLT-convened shareholder meeting referenced for Roselabs Finance.

Remote e-voting window and cut-off date

The scheme vote includes remote e-voting, giving shareholders a defined window to cast ballots electronically. The disclosure states that e-voting opens on October 6, 2026 at 9:00 am (IST) and closes on October 8, 2026 at 5:00 pm (IST). The cut-off date for e-voting eligibility is October 2, 2026. This structure is intended to establish which shareholders are eligible to vote and to keep the voting process time-bound. The meeting itself is on October 9, 2026, after the remote e-voting period ends.

Share-swap ratios disclosed in the scheme

A key item for shareholders is the share exchange ratio proposed under the scheme. According to the disclosure, RFL shareholders will receive 7 shares of Lodha Developers Limited for every 1,000 shares of Roselabs Finance Limited. For National Standard (India) Limited shareholders, the ratio stated is 92 Lodha Developers shares for every 1,000 NSIL shares. The notice describes the LDL shares as fully paid-up in the context of the swap ratio for RFL. The swap is described as becoming applicable once the scheme becomes effective, indicating that the exchange is contingent on the scheme reaching its effective date under the statutory process.

Key dates and ratios at a glance

Regulatory disclosures and document circulation

The intimation is stated to be made under SEBI LODR Regulation 30, which governs disclosure of material events for listed entities. The notice and explanatory statement are circulated under Section 230(3) read with Section 102 of the Companies Act, 2013, as disclosed. The scheme is described as involving the merger of Roselabs Finance Limited and National Standard (India) Limited with Lodha Developers Limited, along with their respective shareholders and creditors. The company stated that it is circulating documents electronically to equity shareholders, and that the notice and annexures are also hosted on the company’s website.

Recent shareholder voting context at National Standard (India)

Separate from the merger vote, the disclosure also references the outcome of National Standard (India) Limited’s 63rd annual general meeting held on August 28, 2026 through video conferencing. The company reported that all seven resolutions at the AGM were passed. It also stated that 97.08% of the total outstanding shares were voted on the resolutions. Remote e-voting for the AGM commenced on August 25, 2026 and concluded on August 27, 2026. The meeting was attended by 30 members, including representatives of statutory and secretarial auditors. The AGM resolutions covered items such as financial statements, board appointments, auditor ratification, and approval of material related-party transactions with Cowtown Infotech Services Limited.

Stock price points cited in the disclosure stream

The provided information includes multiple price references for National Standard (India) shares across dates and sources. It states that as of September 6, 2026, NSIL’s share price is ₹108. It also states that NSIL’s share price is ₹107.74 on NSE and ₹108 on BSE as on September 4, 2026. Another update states that as of September 7, 2026, NSIL stock price is ₹105.02. Separately, an older price point is cited as ₹320.20 as on July 24, 2026, 03:53 PM IST, along with a note that the share price was down by 4.99% based on a previous price of ₹354.7. These figures are presented as reported data points, and they show that prices in the stream vary by date and context.

What happens next

The next formal milestone is the shareholder vote on October 9, 2026, following the remote e-voting window from October 6 to October 8, 2026 and the October 2, 2026 cut-off for eligibility. Shareholders of RFL and NSIL are being asked to approve the merger by absorption into Lodha Developers under the NCLT-directed process. The share exchange ratios disclosed in the notice are central to the consideration, with applicability stated to begin once the scheme becomes effective. Further steps in the process, including effectiveness, depend on completion of the statutory and regulatory requirements referenced in the disclosures.