Notice of Court convened Equity Shareholders meeting of the company to be held on Friday, 13th March 2026 at 10.00 A.M.
Awaiting price reaction for this filing.
India Radiators Limited has informed BSE about a court-ordered equity shareholders meeting to be held on Friday, March 13, 2026 at 10:00 A.M. via video conferencing. The meeting has been directed by the NCLT Chennai Bench under Sections 230-232 of the Companies Act, 2013, to seek shareholder approval for the Scheme of Amalgamation of India Radiators (Transferor) with Mercantile Ventures Limited (Transferee) and their respective shareholders and creditors. Remote e-voting will be open from March 10 to March 12, 2026, with the cut-off date set as March 6, 2026. BSE had already issued a no-adverse-observation letter on October 14, 2025, and a joint share exchange ratio report and fairness opinion from Saffron Capital Advisors and Khandwala Securities were completed on March 31, 2025. Approval requires three-fourths majority by value of equity shareholders, along with majority of public shareholders voting in favour.
Shareholders of India Radiators need to vote on the amalgamation; if approved, India Radiators will merge into Mercantile Ventures in exchange for shares as per the swap ratio. The stock could see volatility around the March 13 voting outcome and the subsequent NCLT sanction process.