RHIM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RHI Magnesita India Ltd has announced a scheme to merge its wholly-owned subsidiary Intermetal Engineers (India) Private Limited into Ashwath Technologies Private Limited. Intermetal (transferor) had a turnover of Rs. 547.44 lakh, while Ashwath (transferee) had a turnover of Rs. 1,737.68 lakh for FY 2026. The appointed date for the merger is 1 April 2026. No cash consideration is involved as the entire equity of Ashwath is already held by Intermetal. Post-merger, Ashwath will become a direct wholly-owned subsidiary of RHI Magnesita India Ltd, simplifying the corporate structure by eliminating one layer of holding companies.
This internal restructuring is expected to reduce administrative costs and streamline operations by consolidating two subsidiaries into one entity. However, since both entities are wholly-owned subsidiaries, this will not directly impact RHIMIN's shareholder structure or trigger any open offer obligations.