Mahanagar Gas Limited has informed the Exchange about receipt of receipt of Certified True Copy of Order passed by Hon ble National Company Law Tribunal, Mumbai Bench regarding the Scheme of Amalgamation of Unison Enviro Private Limited, wholly owned subsidiary with its holding company i.e. Mahanagar Gas Limited and their respective shareholders
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Mahanagar Gas Limited (MGL) has received the certified true copy of the NCLT Mumbai Bench order dated July 9, 2025, approving the amalgamation of its wholly owned subsidiary Unison Enviro Private Limited (UEPL) into itself. The appointed date for the merger is February 1, 2024, and the scheme will become effective once the certified order is filed with the Registrar of Companies, Maharashtra. Both companies operate in the City Gas Distribution (CGD) business — UEPL covers Ratnagiri, Latur & Osmanabad (Maharashtra) and Chitradurga & Davanagere (Karnataka), while MGL operates in Mumbai, Greater Mumbai, Thane and Raigad. Since UEPL is a wholly owned subsidiary, no new MGL shares will be issued; UEPL's shares will simply stand cancelled. The merger aims to deliver operational synergies, cost optimization, simplified management structure, and reduced compliance burden for MGL.
Shareholders are unlikely to see any change in their shareholding or receive new shares, as UEPL is already wholly owned by MGL. The merger is expected to streamline operations, cut costs, and strengthen MGL's CGD footprint, but should not have a material impact on the stock price since it is an internal consolidation.