The Board of Directors at its meeting held today i.e., March 16, 2026 has approved the Scheme of Amalgamation of Planetfirst Green Private Limited with and into POCL Enterprises Limited ....
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POCL Enterprises Ltd (POEL), a BSE-listed manufacturer of lead metals, zinc oxides, and PVC stabilizers, has received board approval to merge its associate company Planetfirst Green Private Limited (PGPL) into itself under Sections 230-232 of the Companies Act, 2013, with an appointed date of April 1, 2026. PGPL is a specialized lead recycling and refining unit with a turnover of Rs. 13,912 lakhs but a negative net worth of Rs. (1,154.88) lakhs, and operates a facility in Surat, Gujarat. The merger is a share-based deal with no cash consideration: every 100 equity shares of PGPL (Rs. 10 face value) will be exchanged for 13 equity shares of POEL (Rs. 2 face value), and preference shareholders will get 5 POEL shares for every 100 PGPL preference shares. The scheme will dilute POEL's total share count from 3.07 crore to 3.13 crore shares, with promoter holding easing slightly from 40.15% to 39.41%. The transaction is being treated as a related party deal (POEL holds 40% of PGPL's equity) but is being carried out at arm's length basis per a registered valuer's report and merchant banker fairness opinion. The merger remains subject to NCLT, SEBI, and BSE approvals, along with shareholder and creditor consent.
For POEL shareholders, this is a vertical integration move that brings recycling and refining operations in-house, adds a Western India footprint through PGPL's Surat unit, and is expected to deliver supply chain stability and cost efficiencies, though the merger will marginally dilute promoter holding and add a loss-making associate onto the balance sheet.