India Radiators Ltd Board Approves Key Details of Amalgamation Scheme with Mercantile Ventures
The Board of Directors of India Radiators Limited has approved several key matters related to the ongoing Scheme of Amalgamation between the company and Mercantile Ventures Limited. The decisions follow the receipt of a certified order from the National Company Law Tribunal (NCLT) concerning the scheme.During the board meeting on July 13, 2026, the directors reviewed the sanctioned amalgamation process that involves India Radiators Limited as the Transferor Company and Mercantile Ventures Limited as the Transferee Company. The Board noted and approved matters concerning the determination of shareholders entitled to equity shares under the scheme.
The core elements of the proposed transaction include specific timelines and a defined share exchange ratio, which determines how existing shareholders will benefit from the amalgamation.
Key details regarding the Scheme of Amalgamation are outlined below:
| Aspect | Details |
|---|---|
| Transferor Company | India Radiators Limited |
| Transferee Company | Mercantile Ventures Limited |
| Record Date | July 24, 2026 |
| Appointed Date | January 01, 2025 |
The approved Share Exchange Ratio dictates that shareholders of the transferor company will receive 10 equity shares of the transferee company for every 36 equity shares held in India Radiators Limited. Both companies' shares relevant to this exchange have a face value of INR 10/- each and are fully paid up.
The effective date of the Scheme is contingent upon regulatory filing. The Scheme will become effective on the date that the certified copy of the NCLT sanction order is filed with the Registrar of Companies in Chennai. This final effective date will be communicated for public dissemination once the filing process is complete.
Stock Price Movement
India Radiators Ltd settled at ₹15.87 following today's trading session, registering no change in value. The shares were completely flat throughout the day, with the intraday high and low both locking at this price point.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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