Mercantile Ventures Limited Announces Record Date for Share Allocation in Amalgamation
The board of Mercantile Ventures Limited has set the record date for determining eligible shareholders of India Radiators Limited concerning an ongoing scheme of amalgamation. This process determines which equity shares of the transferee company, Mercantile Ventures Limited, will be allotted to the shareholders of the transferor company, India Radiators Limited.Mercantile Ventures Limited specified that the record date for this purpose is Friday, July 24, 2026. Shareholders and creditors of both companies are affected by the terms outlined in the scheme.
The allocation details pertain to equity securities, with Mercantile Ventures Ltd's security code listed as MERCANTILE 538942. The book closure for this process is noted as Not Applicable for both days.
Key details regarding the allotment and share exchange ratio are provided below:
| Detail | Transferee Company (Mercantile Ventures Limited) | Transferor Company (India Radiators Limited) |
|---|---|---|
| Security Type | Equity | Equity |
| Face Value per Share | INR 10/- | INR 10/- |
According to the terms of the Scheme, shareholders of India Radiators Limited are entitled to receive equity shares in Mercantile Ventures Limited based on a specific share exchange ratio. The defined ratio is 10 equity shares of the transferee company for every 36 equity shares of the transferor company.
MERCANTILE Stock Price Movement
Shares of Mercantile Ventures Limited today slipped by 2.18% to settle at ₹25.07, reflecting a noticeable decline after trading in the post-market session. The stock closed with a volume of 1,553 shares, down from its previous close of ₹25.2.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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