Notice of the 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 issued notice for a Court-convened meeting of its equity shareholders, ordered by the NCLT Chennai Bench on February 2, 2026, to be held on Friday, March 13, 2026 at 10:00 A.M. via video conferencing. The purpose of the meeting is to consider and approve the proposed Scheme of Amalgamation of India Radiators Limited (Transferor Company) into Mercantile Ventures Limited (Transferee Company) and their respective shareholders and creditors under Sections 230-232 of the Companies Act, 2013. BSE had previously issued its no-adverse-observation letter on October 14, 2025. The scheme is supported by a joint share exchange ratio (valuation) report dated March 31, 2025 and a fairness opinion from Saffron Capital Advisors and Khandwala Securities. Remote e-voting will run from March 10 to March 12, 2026, with March 6, 2026 as the cut-off date. Approval requires a majority of three-fourths in value of equity shareholders voting in favour, and additionally, public shareholders must vote more in favour than against.
For shareholders of India Radiators, this is a critical corporate event — if the scheme is approved and subsequently sanctioned by the NCLT, India Radiators will merge into Mercantile Ventures and shareholders will receive shares of Mercantile Ventures as per the swap ratio. The stock may see volatility around the meeting date depending on the perceived attractiveness of the swap ratio and expected voting outcome.