Announced Mon, 13 Jul, 2026 · 16:41 IST

NCLT approves India Radiators merger into Mercantile Ventures; swap ratio 10:36 fixed

Scheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

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AI summary

NCLT has approved the Scheme of Amalgamation between India Radiators (transferor) and Mercantile Ventures (transferee). Share exchange ratio fixed at 10 equity shares of Mercantile Ventures (INR 10 face value) for every 36 equity shares of India Radiators (INR 10 face value). Record date set for July 24, 2026, to identify eligible shareholders. Appointed date is January 1, 2025. Scheme becomes effective on filing of NCLT order with Registrar of Companies.

Likely market impact

Shareholders of India Radiators will receive 10 shares of Mercantile Ventures for every 36 held. Record date July 24, 2026.