Intimation regarding Scheme of Merger/ Amalgamation of Intermetal Engineers (India) Private Limited i.e. wholly owned Subsidiary of RHI Magnesita India Limited ( the Company ) with and into Ashwath Technologies Private Limited i.e. wholly owned subsidiary of Intermetal Engineers (India) Private Limited
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RHI Magnesita India Limited has announced an internal restructuring where its wholly owned subsidiary Intermetal Engineers (India) Private Limited will merge into Ashwath Technologies Private Limited (which is a subsidiary of Intermetal). The appointed date is 1 April 2026. Post-merger, Ashwath will become a direct wholly owned subsidiary of RHI Magnesita India. The deal involves issuing 10,000 equity shares of Ashwath (face value Rs. 10 each) to RHI Magnesita and its nominee with no cash consideration. The rationale is to simplify the corporate structure by eliminating a holding company layer, reduce compliance costs, streamline operations, and enable better utilisation of resources. Turnover of Transferor (Intermetal): Rs. 547.44 lakh; Transferee (Ashwath): Rs. 1,737.68 lakh. The transaction is exempt from related party transaction norms as it involves a wholly owned subsidiary amalgamation.
No direct impact on RHI Magnesita India's listed shareholding or stock price as the transaction only reorganises its internal subsidiary structure. The merger is expected to reduce administrative and compliance costs and improve operational efficiency.