Notice of Meeting of Equity Shareholders of the Company on Friday, June 12, 2026
PRADPME · price
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Pradeep Metals Limited (PML) has convened a shareholders meeting on June 12, 2026, as directed by NCLT Mumbai, to approve the amalgamation of Nami Capital Private Limited (NCPL) into PML. NCPL is an unlisted company holding 59.03% stake in PML and is primarily engaged in steel trading and securities investments. Under the scheme, NCPL shareholders will receive 19,007 PML shares for every 300 NCPL shares held, while preference shareholders will get 1 PML share for every 17 NCPL preference shares. The rationale includes simplification of group structure, reduction of legal entities, improved capital allocation, and greater transparency in promoter holding. Voting requires 3/4 majority in value plus majority of public shareholders voting in favor.
The amalgamation will simplify PML's shareholding structure by eliminating the intermediate holding company layer. Existing PML shareholders will see dilution as new shares are issued to NCPL shareholders, though the deal primarily consolidates promoter holding directly under the listed entity. Shareholders should evaluate the share exchange ratio carefully before voting.