POCL Board Approves Merger of Wholly-Owned Subsidiary HEEPL
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Pondy Oxides & Chemicals (POCL) board approved amalgamation of its wholly-owned subsidiary Harsha Exito Engineering Pvt Ltd (HEEPL) with itself. HEEPL recycles non-ferrous metals, plastics and engineering components, while POCL makes lead metals, alloys, copper and other non-ferrous metals. Since HEEPL is fully owned, no new shares will be issued and no cash will be paid; subsidiary shares will be cancelled. POCL standalone turnover was about Rs. 79,985 lakhs (FY26). Scheme subject to NCLT, shareholder and creditor approvals.
No change in POCL shareholding pattern. Merger simplifies group structure, removes duplication, and aims to improve efficiency and economies of scale.