Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, we hereby inform you that the Board of Directors in their meeting held today, i.e, ....
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On 9th June 2026, the board of KD Green Industries Limited (formerly Manbro Industries Limited) approved a proposed merger with KD Iron & Steel Private Limited, both of which share common promoters and operate in iron and steel manufacturing. KD Green reported a turnover of about ₹22.83 crore for FY ending 31 March 2026, while KD Iron & Steel reported a turnover of about ₹315.94 crore for the same period, indicating the target is significantly larger by revenue. The merger qualifies as a related party transaction, though the company states it will be carried out at arm's length. The swap ratio, valuation, and any change in shareholding pattern are yet to be finalized and remain subject to due diligence and regulatory approvals.
For shareholders, the merger could bring a much larger iron & steel business under the listed entity, but the swap ratio and final terms will determine the real benefit. The stock may see short-term volatility until the valuation and share exchange ratio are disclosed.