Rudra Ecovation Merger Effective: Key Dates, Ratio, Listing

Merger takes effect after ROC filing

The merger of Rudra Ecovation Limited with Shiva Texfabs Limited became effective on October 23, 2026. The effective date followed the filing of the formal National Company Law Tribunal, or NCLT, order with the Registrar of Companies. Rudra Ecovation was the transferor company under the Scheme of Amalgamation, while Shiva Texfabs was the transferee company. The NCLT’s Chandigarh Bench-I had approved the scheme on September 16, 2026. The appointed date for the amalgamation was April 1, 2025. With the scheme now effective, Rudra Ecovation stands dissolved without winding up. All its assets and liabilities transfer to Shiva Texfabs under the sanctioned arrangement.

NCLT order provides the legal basis

The companies informed the market that the final NCLT order sanctioning the merger and amalgamation had been uploaded to the tribunal’s official website. The order covers the amalgamation of Rudra Ecovation with Shiva Texfabs and their respective shareholders and creditors. NCLT approval is a key legal step for an amalgamation involving listed companies. The subsequent filing of the order with the Registrar of Companies made the scheme effective. The merger therefore moved from tribunal approval to legal implementation during October 2026. The announcement did not provide separate financial figures for the assets or liabilities being transferred. It confirmed that these would be assumed by Shiva Texfabs as the transferee company.

Shareholders face a 0.213 exchange ratio

Rudra Ecovation shareholders will receive shares in Shiva Texfabs under the approved consideration structure. For every one equity share of Rudra Ecovation with a face value of ₹1, a shareholder will receive 0.213 equity shares of Shiva Texfabs. The Shiva Texfabs shares to be issued have a face value of ₹10 each and will be credited as fully paid-up. The ratio applies to shareholders eligible on the record date fixed under the scheme. The companies have set November 6, 2026, as the record date for allotment of shares to Rudra Ecovation shareholders. Fractional entitlements, if any, were not detailed in the information provided. Investors should rely on the companies’ formal scheme documents and exchange filings for procedural details.

Key dates and scheme terms

Shiva Texfabs will adopt the Rudra Ecovation name

A notable part of the scheme is the proposed name change of the transferee company. Upon the effectiveness of the scheme, Shiva Texfabs Limited will change its name to Rudra Ecovation Limited. The company has said it will comply with applicable provisions of the Companies Act, 2013 for this change. This means the legal entity receiving Rudra Ecovation’s assets and liabilities will continue under the Rudra Ecovation name after the process is completed. The scheme identifies Shiva Texfabs as the transferee entity until the name change takes effect. The announcement did not specify a separate date for completion of the name-change formalities. Such steps remain subject to the applicable corporate compliance process.

BSE listing will continue through the transferee

The post-merger equity share capital of the transferee company will be listed on BSE Limited. Rudra Ecovation’s shares were previously listed on BSE. Following the amalgamation, shareholders receiving equity shares under the exchange ratio will hold shares in the transferee company, which is to be renamed Rudra Ecovation Limited. The BSE listing is therefore an important operational feature of the merger for existing shareholders. The disclosures did not state a separate listing date for the post-merger equity share capital. They also did not provide details on any trading timeline or temporary suspension process. Investors will need to monitor subsequent BSE notices for those updates.

September shareholding disclosures

Rudra Ecovation submitted its shareholding pattern for the period ended September 30, 2026, to BSE on October 9, 2026. The filing stated that Indian promoters held 15.57% and the public held 84.44%. A separate shareholding summary reported promoter holding at 15.56%, institutions at 6.56%, public at 56.04%, and others at 21.83%. The source material also said promoter holdings remained unchanged at 15.56% during the September 2026 quarter. Retail investor holding was reported as increasing from 77.79% to 77.87%. These figures reflect different shareholder classifications presented in the supplied disclosures. No pledged promoter holdings were reported.

Major holders reported before the merger

Brijeshwari Textiles Private Limited was identified as the largest promoter shareholder, with a 6.16% stake. India Equity Fund 1 was identified as the highest public shareholder, holding 5.13%. Individual investors collectively held 57.71%, according to the supplied shareholder information. The company also had one foreign institutional investor with a 0.19% stake. One mutual fund scheme was reported to hold a negligible amount. These ownership details provide context for the shareholder base affected by the exchange ratio and record date. The merger does not change the disclosed ratio applicable to each eligible Rudra Ecovation equity share.

Physical share transfer notice preceded effectiveness

Rudra Ecovation published a newspaper notice on October 13, 2026, regarding a special window for transfer and dematerialisation of physical shares. Copies of that notice were filed with BSE for compliance. The notice came after the NCLT had pronounced its final merger order on September 16. The timing gave holders of physical securities information on transfer and dematerialisation procedures before the merger became effective. The provided information does not specify the duration or detailed terms of the special window. Shareholders holding physical certificates should refer to the company’s filed notice and relevant registrar instructions. Dematerialisation and transfer formalities can be material for investors seeking to complete transactions around a record date.

What shareholders should watch next

The principal upcoming date under the announced merger timetable is November 6, 2026, the record date for share allotment. Eligible Rudra Ecovation shareholders are set to receive fully paid-up Shiva Texfabs equity shares at the ratio of 0.213 shares for every one Rudra Ecovation share. Shiva Texfabs will also undertake the process to change its name to Rudra Ecovation Limited. The post-merger equity share capital is intended to be listed on BSE. The merger has legally transferred Rudra Ecovation’s assets and liabilities to the transferee company and dissolved the transferor without winding up. Further company and stock exchange disclosures will clarify allotment, name-change and listing-related steps.