Kirloskar Ferrous Industries Completes Merger of Oliver Engineering and Adicca Energy Solutions
Kirloskar Ferrous Industries Limited (KFIL) announced the completion of a major Scheme of Arrangement, absorbing two subsidiaries, Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL). The merger was finalized after receiving an order from the National Company Law Tribunal (NCLT), Mumbai Bench.The scheme stipulates that both Transferor Companies—Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited—have merged into Kirloskar Ferrous Industries Limited, which serves as the Transferee Company. As of the effective date of the merger, these two companies have been dissolved without being wound up.
According to the terms of the Scheme, the Effective Date for this absorption was April 1, 2025.
The arrangement ensures that the Transferor Companies are wholly owned subsidiaries of Kirloskar Ferrous Industries Limited. Consequently, upon the scheme becoming effective, there were no shares issued by the Transferee Company in exchange for the holding of the Transferor Companies, which were held directly and jointly with nominee shareholders. The entire issued and paid up capital of both transferred companies has been cancelled.
Capital Restructuring Details
The merger process included an amendment to the capital clause within the Memorandum of Association of Kirloskar Ferrous Industries Limited. The company's authorized share capital was amended, expanding its structure across multiple classes of shares.Key figures regarding the revised authorized share capital are as follows:
| Share Type | Authorized Capital Value (INR) | Total Shares | Face Value per Share |
|---|---|---|---|
| Equity Shares | 3,89,61,00,000 | 54,52,20,000 | ₹ 5 |
| Preference Shares | [Figure not provided] | 11,70,00,000 | ₹ 10 |
The amended structure grants Kirloskar Ferrous Industries Limited the power to increase and reduce its capital, divide shares into several classes, and attach any preferential, deferred, qualified or special rights as determined by its Articles of Association.
KIRLOSIND Stock Price Movement
Shares of Kirloskar Industries Limited are edging higher to ₹3114.1 as of 1:58 PM today in live trading, having gained 1.89% on the day. The stock trades within a tight range, currently bounded by a day low of ₹3084.5 and an intra-day high of ₹3124.8 amid activity involving 1,028 shares.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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