Manaksia Limited has informed the Exchange about receipt of observation letter with no adverse objection/No objection letter from NSE 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 a 'No adverse observation/No objection' letter from NSE for its proposed scheme of arrangement involving the demerger of its Metal Product Business Undertaking into Manaksia Ferro Industries Limited. BSE had already issued a similar no-objection letter on July 28, 2025, so both exchange approvals are now in hand. With these in place, the company will next initiate filing of the scheme with the NCLT, Kolkata. The NSE letter is valid for 6 months from July 29, 2025. Listing of Manaksia Ferro Industries Limited shares will require separate SEBI approval, and trading must commence within 60 days of the NCLT order. NSE has laid out several compliance conditions, including disclosures of financials, liabilities transfer, and shareholder communication.
This is a significant regulatory milestone that clears the way for the next stage of the demerger process, including NCLT and shareholder/creditor approvals. If completed, the demerger will carve out the Metal Product Business into a separate listed entity, which could reshape Manaksia Limited's business mix and investor perception. Shareholders should watch for the NCLT filing, court hearings, and the eventual share entitlement and listing of Manaksia Ferro Industries Limited.