NCLT approves amalgamation of two subsidiaries into Pitti Engineering
PITTIENG · price
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NCLT Hyderabad approved the merger of two wholly-owned subsidiaries, Pitti Industries Pvt Ltd and Dakshin Foundry Pvt Ltd, into Pitti Engineering Limited with appointed date 1 April 2026. No new shares will be issued since both are wholly-owned, so there is no share dilution. The merger consolidates related businesses in electrical steel laminations, castings, die-cast rotors and assemblies, aiming for cost efficiencies and a simpler group structure. The scheme becomes operative after filing the certified order with the Registrar of Companies.
Simplifies group structure with no share dilution. Subsidiary businesses now vest directly in the listed entity PEL.