Tilaknagar Industries Limited has informed the Exchange that the Board at its Meeting today i.e. Friday, May 29, 2026, has inter-alia considered and approved, subject to the receipt of requisite approval, consents and sanctions, the Scheme of Amalgamation under Section 230 to 232 and other applicable provisions of the Companies Act, 2013 read with relevant rules framed thereunder, for amalgamation of two wholly owned subsidiaries of Tilaknagar Industries Limited ( TIL or the Company or Transferee Company ), viz., (i) Punjabexpo Breweries Private Limited; and (ii) Vahni Distilleries Private Limited (collectively referred to as the Transferor Companies and individually as the Transferor Company ) with TIL ( the Scheme of Amalgamation ).
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Tilaknagar Industries (TIL) board has approved a scheme to amalgamate two wholly-owned subsidiaries - Punjabexpo Breweries Private Limited and Vahni Distilleries Private Limited - into the parent company. Both subsidiaries operate in the IMFL (Indian Made Foreign Liquor) business similar to TIL. The appointed date for the amalgamation is April 1, 2026. Since TIL already owns 100% of both subsidiaries, no new shares will be issued and there will be no change in shareholding pattern. The scheme is subject to NCLT Mumbai Bench and other regulatory approvals. Punjabexpo had net worth of Rs 771.77 lakhs and total income of Rs 241.53 lakhs, while Vahni had negative net worth of Rs 168.63 lakhs and total income of Rs 681.98 lakhs as of March 31, 2026.
This is an internal consolidation that should reduce administrative costs and streamline operations. Since no new shares are being issued and the subsidiaries are fully owned, there is no dilution for existing shareholders. The merger may provide operational synergies and cost savings, which could be positive for profitability.