Scheme of Amalgamation between Savita GreenTec Limited, wholly owned subsidiary, and the Company
SOTL · price
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Savita Oil Technologies Limited (SOTL) has approved a scheme to amalgamate its wholly owned subsidiary Savita GreenTec Limited (SGL) into the parent company. SGL, incorporated in October 2022, operates in similar and complementary businesses including plastics, petroleum products, and rubber. Since SGL is 100% owned by SOTL, no new shares will be issued as consideration and SGL's shareholding will be cancelled automatically. The appointed date for the amalgamation is April 1, 2026. The rationale includes streamlining operations, reducing overheads, eliminating duplicate compliance costs, achieving economies of scale, and enhancing shareholder value by consolidating related businesses into a single entity.
This amalgamation consolidates SOTL's structure by merging a wholly owned subsidiary, which should reduce administrative costs and improve operational efficiency without impacting shareholder value or diluting equity.