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Citizen Infoline Limited completed its merger with Citizen Solar Private Limited and rebranded as Citizen Solar Limited. The company also shifted its sector classification to renewable energy.
Citizen Infoline Ltd has fixed March 31, 2026, as the record date for its merger with Citizen Solar Private Limited. Eligible shareholders of the transferor company will receive 11 equity shares of Citizen Infoline for every 1 share held. The amalgamation follows NCLT Mumbai Bench approval dated March 19, 2026.
Citizen Infoline Ltd has allotted 86,46,000 equity shares to shareholders of Citizen Solar Private Limited following their amalgamation. The allotment, based on an 11:1 share swap ratio, increased the company's paid-up capital to ₹14.04 Crore. This marks the completion of the NCLT-approved Scheme of Arrangement.