The Board has considered and approved the Scheme of Amalgamation between Midwest Energy Private Limited (Transferor Company) with Midwest Gold Limited (Transferee Company) and their respective ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Midwest Gold Limited's Board, at its meeting on August 21, 2025, approved a Scheme of Amalgamation to merge its wholly-owned subsidiary Midwest Energy Private Limited (MEPL) into itself. MGL is primarily in mining and mineral processing, while MEPL is in designing and manufacturing advanced battery packs and Battery Management Systems. Both companies currently report nil turnover; MGL has a net worth of Rs. 9,203.22 lakhs and MEPL has Rs. 4,320.49 lakhs (as of June 30, 2025). Since MEPL is already 100% owned by MGL, no shares will be issued as consideration and there will be no change in the shareholding pattern. The scheme is being done under Section 233 of the Companies Act, 2013 (fast-track merger route) and is subject to statutory and regulatory approvals.
This is an internal restructuring that combines the battery/BMS business of MEPL into the listed entity Midwest Gold. There is no dilution or change in shareholding for existing shareholders, so near-term price impact should be minimal. The move diversifies the listed company's business profile, but with zero current turnover at both entities, actual revenue benefit remains to be seen.