Notice of the Court convened meeting of the Equity Shareholders on March 13, 2026
MERCANTILE · price
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Mercantile Ventures has issued a notice for a court-convened meeting of its equity shareholders on March 13, 2026 at 12:00 PM (via video conferencing) to consider and approve the Scheme of Amalgamation of India Radiators Limited (Transferor) with Mercantile Ventures Limited (Transferee). The meeting was directed by the NCLT Chennai Bench via its order dated February 2, 2026, under Sections 230-232 of the Companies Act, 2013. Remote e-voting will be open from March 10 to March 12, 2026, with a cut-off date of March 6, 2026. The scheme has already received a 'no adverse observation' letter from BSE dated October 14, 2025, and is supported by a joint share exchange ratio report and fairness opinions from independent valuers and merchant bankers. Approval requires a three-fourths majority in value of equity shareholders, plus a majority of votes cast by public shareholders in favour of the scheme.
If shareholders approve the merger at the March 13 meeting, India Radiators will be amalgamated into Mercantile Ventures, potentially expanding the company's scale. Until the voting outcome, shareholders should review the share exchange ratio, fairness opinion, and pre/post-scheme financials available with the notice on the company's website before casting their votes.