The Peria Karamalai Tea & Produce Announces Shareholding Update Following Amalgamation of Placid Limited with Maharaja Shree Umaid Mills

The Peria Karamalai Tea & Produce Announces Shareholding Update Following Amalgamation of Placid Limited with Maharaja Shree Umaid Mills​

The Peria Karamalai Tea & Produce Company Limited has updated its shareholding status following the scheme of amalgamation approved by the National Company Law Tribunal (NCLT). The transaction involved the merger of Placid Limited with Maharaja Shree Umaid Mills Limited (MSUM), significantly adjusting the company’s stake in the merged entity.

The amalgamation of Placid Limited (Transferor Company) with Maharaja Shree Umaid Mills Limited (Transferee Company/MSUM) became effective on April 25, 2026, following the NCLT order dated March 16, 2026.

Prior to the amalgamation, The Peria Karamalai Tea & Produce Company Limited held 93,590 Equity Shares of Rs. 100/each, representing 17.4254% of the paid up equity share capital of Placid Limited. The company also held 2,158 Equity Shares of Rs. 10/each, representing 0.0011% of the paid up equity share capital of MSUM.

Impact of the Scheme of Amalgamation​

As the scheme became effective, Placid Limited ceased to exist with effect from April 25, 2026. The consideration for the shares held by The Peria Karamalai Tea & Produce Company Limited in Placid Limited was discharged by the issuance and allotment of equity shares in Maharaja Shree Umaid Mills Limited.

The share exchange ratio stipulated that 515 Equity Shares of Rs. 10/each (known as "New Shares") were credited in MAHARAJA SHREE UMAID MILLS LIMITED for every 1 Equity Share of Rs. 100/each held by the company in Placid Limited.

Consequently, the Company received 4,81,98,850 equity shares of Rs. 10/each in Maharaja Shree Umaid Mills Limited. This addition resulted in the Company’s post-amalgamation holding in MSUM reaching 4,82,01,008 equity shares of Rs. 10/- each. This represents approximately 14.8958% of MSUM's post-merger paid up equity share capital.

Maharaja Shree Umaid Mills Limited Overview​

Maharaja Shree Umaid Mills Limited ('MSUM') is an existing company within the Companies Act, 2013, with its registered office at 7, Munshi Premchand Sarani, Hastings, Kolkata- 700022, India. The company’s line of business includes Textile, Renewable Energy and Financing & Investment.

MSUM's paid up share capital is reported as INR 210,58,06,500, divided into 20,05,80,650 Equity Shares of Rs. 10/- each, alongside 10,00,000 Optionally Convertible Redeemable Shares.

The company’s recent turnover figures show the following progression:

PKTEA Stock Price Movement​

On Friday, shares of The Peria Karamalai Tea & Produce Company Limited slipped by 4.33% to close at ₹746.65. The stock saw notable weakness in trading, logging a volume of 165 units during the session.