Paradeep Phosphates Limited has submitted the Exchange a copy Srutinizers report of Court Convened General Meeting held on Jun 02, 2025. Further, the company has informed the Exchange regarding voting results.
PARADEEP · price
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On the reaction day the stock moved 3.1 pts less than Nifty Smallcap 250 and 2.5 pts less than its Fertilizers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Paradeep Phosphates Limited (PPL) has submitted the voting results and scrutinizer's report for the NCLT-convened meetings of its equity shareholders and unsecured creditors held on June 2, 2025. The meetings were called to approve a Composite Scheme of Arrangement under which Mangalore Chemicals & Fertilizers Limited (MCFL) will merge into PPL (PPL being the transferee company). The resolution was passed with overwhelming support: 99.9984% of equity shareholders (778 members holding ~69.37 crore shares) voted in favour, including 99.9954% support from public shareholders. All 79 unsecured creditors representing the full value of ~₹1,630.84 crore voted 100% in favour with zero dissent. The scheme had earlier received CCI approval (July 2024) and BSE/NSE observation letters (February 2025). The next step is final sanction from the NCLT Cuttack Bench for the scheme to become effective.
This is a significant positive milestone for PPL shareholders as the merger with MCFL has cleared the shareholder and creditor approval stage with near-unanimous support. Pending NCLT sanction, the merger could expand PPL's scale in the fertilizers sector. The deal remains subject to NCLT final approval, so investors should watch for that order as the next key trigger.