Maharashtra Seamless Limited has informed the Exchange about Scheme of Arrangement
MAHSEAMLES · price
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Maharashtra Seamless Limited (MSL) has approved a composite scheme of arrangement to demerge two business undertakings into its wholly-owned subsidiaries. Demerged Undertaking 1 (seamless pipe manufacturing at Mangaon, Maharashtra with 125,000 MTPA capacity and a 10 MW solar plant at Beed) will transfer to MSL Seamless Tubes Limited. Demerged Undertaking 2 (seamless pipe manufacturing at Narketpally, Telangana with 200,000 MTPA capacity, solar plants in Rajasthan totaling 25 MW, and rig Jindal Explorer) will transfer to United Seamless Limited. The combined demerged turnover is Rs. 1,486 crores representing 31.82% of MSL's total FY 2025-26 turnover of Rs. 4,671 crores. The appointed date is 1st October 2026, and the scheme is subject to NCLT and shareholder approvals.
Existing MSL shareholders will receive shares in both resulting companies at a 1:5 ratio (1 share each in MSTL and USL for every 5 shares held in MSL), creating a mirror shareholding structure. Both resulting companies will seek listing on BSE and NSE, potentially unlocking value by separating distinct manufacturing facilities with different technologies and customer bases.