Smiths & Founders and SKF Elixer Execute Merger Agreement for Growth and Diversification
Smiths & Founders (India) Limited has executed a Merger Agreement in connection with the proposed merger of SKF Elixer India Private Limited with Smiths & Founders (India) Limited. This strategic combination aims to achieve growth and diversification across the combined entity's operations.The two companies involved in the amalgamation are operating within the Engineering and Capital Goods sectors. The transaction was confirmed as not falling under related party transactions.
Details regarding the entities forming part of the merger include their financial standing:
| Company Name | Paid Up Capital | Turn Over | Business Area |
|---|---|---|---|
| Smiths & Founders (India) Limited | Rs. 10,19,96,525 | Rs. 13.98 Crores | Engineering and Capital Goods |
| SKF Elixer India Private Limited | Rs. 15,45,41,666 | Rs. 235.45 Crores | Engineering and Capital Goods |
The merger is positioned as a move towards Growth and Diversification for the amalgamated entity.
Stock Price Movement
Smiths & Founders (India) Ltd settled on Wednesday at ₹9.12, which marks a strong advance of 4.95% for the shares. The stock was completely flat during trading hours, as the intraday high and low were both observed at ₹9.12.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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