Scrutinizer''s Report of NCLT Convened Equity Shareholders Meeting of the Company held on Friday, 13th March 2026 at 10.00 AM.
Awaiting price reaction for this filing.
India Radiators Limited held an NCLT-convened meeting of equity shareholders on March 13, 2026, to seek approval for its Scheme of Amalgamation with Mercantile Ventures Limited (Transferee Company) under Sections 230-232 of the Companies Act, 2013. A total of 35 shareholders attended the meeting, representing 4,51,900 shareholders on record. Of the 9,00,000 total equity shares, 4,24,214 shares (47.13%) were polled, and all voted 100% in favour of the resolution, with zero votes against. Both promoter group (3,48,622 shares) and public non-institutional shareholders (75,592 shares) voted entirely in favour. The Scrutinizer confirmed the resolution was passed with the requisite majority.
Shareholders of India Radiators have approved the amalgamation, meaning the company will now merge into Mercantile Ventures Limited once final NCLT, BSE, SEBI, and other regulatory approvals are obtained. Existing shareholders of India Radiators will likely receive shares of Mercantile Ventures in exchange as per the swap ratio, and the stock may see reduced trading activity on BSE as the scheme progresses toward final sanction.