Revised Lava Cast merger approved; overseas restructuring evaluation begins
SETCO · price
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Setco Automotive's board approved a revised plan to merge wholly owned Lava Cast with the company, replacing the March 2026 scheme. No shares or cash will be paid and ownership will not change. At 31 March 2026, Lava Cast had turnover of Rs 8778.29 lakh and negative net worth of Rs 13670.76 lakh. The board also gave initial approval to evaluate consolidating overseas operations.
No share issuance or cash payment under the merger. Cost savings may help shareholders, but overseas restructuring remains uncertain and needs further approvals.