Paradeep Phosphates Limited has informed the Exchange regarding Notice of Court Convened General Meeting of Equity Shareholders to be held on June 02, 2025
PARADEEP · price
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Paradeep Phosphates Limited has notified shareholders about a court-convened meeting on June 2, 2025 (11:00 AM via video conferencing) to vote on a proposed composite scheme of arrangement with Mangalore Chemicals & Fertilizers Limited (MCFL). Under the scheme, MCFL will amalgamate into Paradeep Phosphates, and Paradeep Phosphates will issue new equity shares to MCFL shareholders based on a share exchange ratio determined by valuers SSPA & Co. The NCLT Cuttack Bench directed this meeting on April 25, 2025, after the scheme was filed as Company Application C.A.(CAA) No. 4/CB/2025. Key regulatory approvals already in place include CCI clearance (July 30, 2024), BSE observation letter (February 27, 2025), and NSE observation letter (February 28, 2025). The cut-off date for shareholder eligibility is May 26, 2025, with remote e-voting open from May 28 to June 1, 2025.
Shareholders as of the May 26, 2025 cut-off date need to vote on this amalgamation, which requires three-fourths majority by value and also a majority of public shareholders voting in favour. If approved, the merger will consolidate two listed fertilizer companies under Paradeep Phosphates, with MCFL shareholders receiving new shares per the swap ratio. Successful passage could lead to cost synergies and a larger combined entity, but shareholders should review the valuation reports and fairness opinion attached to the notice.