The Board of Directors at their meeting on 22.05.2026 approved the Scheme of arrangement for the merger of Avisa Private Limited and Banil Castings Private Limited with National Fittings ....
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National Fittings Limited's Board has approved a merger where Avisa Private Limited and Banil Casting Private Limited will be amalgamated into NFL. Avisa has assets of INR 4.56 crores with nil turnover, while Banil has assets of INR 78.80 crores and turnover of INR 62.60 crores. NFL currently has assets of INR 119.84 crores and turnover of INR 96.19 crores. Share exchange ratios are 1,03,098 NFL shares for every 1,000 Avisa shares and 472 NFL shares for every 1,000 Banil shares. The appointed date is 1st April 2026. The deal is subject to approvals from BSE, SEBI, NCLT, and shareholders/creditors.
The merger will consolidate NFL's manufacturing capabilities with Banil's foundry operations and Avisa's Gujarat land facility, potentially expanding scale and profitability. However, promoter holding will increase significantly from 34% to 63%, diluting public shareholding from 66% to 37%.