Intimation of amalgamation of certain Promoter Group entities.
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Awaiting price reaction for this filing.
Earthstahl & Alloys has informed BSE that two of its promoter group companies — Jaiguru Vintrade Pvt. Ltd. (JVPL) and Chhattisgarh Metaliks & Alloys Pvt. Ltd. (CMAPL) — are being merged, with JVPL being absorbed into CMAPL. The merger was sanctioned by the Regional Director (North West Region) under Section 233 of the Companies Act, 2013. The listed company Earthstahl is not a direct party to this scheme. As a result of the merger, the Earthstahl shares currently held by JVPL will move under CMAPL's name, but the total promoter group holding will remain unchanged at 73.53%.
This is a purely internal promoter-group restructuring with no change in the total promoter shareholding (stays at 73.53%) and no direct impact on Earthstahl's business, operations, or minority shareholders. The stock price is unlikely to be materially affected.