Pitti Engineering Limited has informed the Exchange regarding 'Updates on Scheme of Amalgamation'.
PITTIENG · price
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Pitti Engineering Limited has received an NCLT Hyderabad Bench order dated 10th April 2026 approving the dispensation of meetings for equity shareholders, secured creditors, and unsecured creditors of all three companies involved in the amalgamation. Two wholly-owned subsidiaries - Pitti Industries Private Limited (engaged in electrical steel laminations) and Dakshin Foundry Private Limited (engaged in iron/steel castings) - are being amalgamated into Pitti Engineering Limited. Since both subsidiaries are 100% owned by Pitti Engineering, no new shares will be issued and the existing investments will be cancelled upon scheme effectiveness. The rationale includes simplifying corporate structure, reducing overheads, achieving economies of scale, and consolidating similar businesses for more efficient resource utilization.
Positive development for shareholders as the scheme moves forward with NCLT approval. Since this is a wholly-owned subsidiary amalgamation, existing Pitti Engineering shareholders will not face dilution, and the consolidation should improve operational efficiency and reduce compliance costs over time.