Kirloskar Ferrous Industries completes merger of subsidiary entities, amends capital structure
Kirloskar Ferrous Industries Limited (KFIL) has finalized a Scheme of Arrangement involving the absorption of two of its subsidiaries: Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited. The transaction brought both companies into the fold of Kirloskar Ferrous Industries Limited.According to the terms of the Scheme, the merger became operative effective from April 1, 2025. Under this arrangement, Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited were merged into and with Kirloskar Ferrous Industries Limited before being dissolved without winding up.
The companies absorbed by KFIL are wholly owned subsidiaries of Kirloskar Ferrous Industries Limited. Consequently, the issuance of any shares of the Transferee Company was not necessary in exchange for the holding of these entities. Furthermore, the issued and paid-up capital of both Transferor Companies has been cancelled as part of the scheme.
The merger and absorption represent a structural change in Kirloskar Ferrous Industries Limited. As a result of this Scheme, the capital clause within the Memorandum of Association of the company has been formally amended. The authorized share capital of the company is now structured as follows:
| Feature | Details |
|---|---|
| Authorized Share Capital | ₹ 3,89,61,00,000 |
| Equity Shares | 54,52,20,000 shares of ₹ 5 each |
| Preference Shares | 11,70,00,000 shares of ₹ 10 each |
Kirloskar Ferrous Industries Limited confirmed that the company retains the power to increase and reduce its capital and to divide the shares into various classes according to the terms specified in the Articles of Association.
KIRLFER Stock Price Movement
On Thursday, shares of Kirloskar Ferrous Industries Limited shed ₹6.80 or 1.63% from the previous close, settling at ₹413.85. The stock plummeted to reach its 52-week low, hitting a daily low of ₹408 during trading.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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