Manaksia Limited has informed the Exchange about receipt of observation letter with no adverse objection/no objection letter from BSE on the scheme of arrangement relating to demerger of Metal Product Business Undertaking.
MANAKSIA · price
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Awaiting price reaction for this filing.
Manaksia Limited has received BSE's Observation Letter dated July 28, 2025, with 'no adverse observation/no objection' on its proposed Scheme of Arrangement to demerge its Metal Products Business Undertaking into Manaksia Ferro Industries Limited (MFIL). The scheme was originally approved by the Board on March 26, 2025. A similar observation letter from NSE is still awaited, and once received, the company will proceed to file the scheme with the NCLT, Kolkata. The BSE observation letter is valid for six months. SEBI has also issued certain disclosure and compliance comments (such as disclosure of ongoing legal proceedings, financials, rationale, and valuation details) that the company must incorporate before approaching NCLT and shareholders.
This is a positive regulatory milestone moving the demerger closer to completion, which could unlock shareholder value by creating a separately listed entity (MFIL) housing the metal products business. However, the actual demerger and share-allocation benefits remain pending NSE clearance, NCLT approval, and shareholder consent.