MSL board approves composite demerger into two wholly owned units
MAHSEAMLES · price
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Maharashtra Seamless board has approved a composite scheme to demerge two seamless pipe units into wholly owned subsidiaries MSL Seamless Tubes (MSTL) and United Seamless (USL). The two demerged units contributed about 32% of FY26 turnover, around Rs 1,486 crore of Rs 4,671 crore. Shareholders will get 1 share of MSTL and 1 share of USL for every 5 MSL shares held. The scheme is value neutral and subject to NCLT and other approvals. Both resulting entities will seek listing on BSE and NSE.
Value neutral for shareholders; existing proportional ownership continues in both new listed entities, subject to NCLT and other approvals.