Board approves amalgamation with Shivang Edibles Oils Ltd
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The Board of Panther Industrial Products Ltd (PIPL) approved a Scheme of Amalgamation with Shivang Edibles Oils Ltd (SEOL) on April 8, 2026 under Sections 230-232 of the Companies Act. PIPL shareholders will get 1 SEOL share (Rs. 10 face value) for every 19 PIPL shares held. The scheme requires NCLT and BSE no-objection approvals. PIPL had a turnover of Rs. 0.20 cr vs SEOL's Rs. 359.95 cr. Post-merger, SEOL promoter Shivang Garg will hold 96.27% of the listed entity.
SEOL gets BSE listing via reverse merger; existing PIPL shareholders get diluted to ~3.7%. Subject to NCLT and BSE approvals.