THE COMPANY HAS ASSOCIATE COMPANY BY NAME VEEJAY SALES AND SERVICES LIMITED (VSSL)CIN-U05150TZ1995PLC005705. IT HAS BEEN SUGGESTED AT THE BOARD MEETING ON 29-05-2025 BY DIRECTORS FOR MERGER ....
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Awaiting price reaction for this filing.
The Board of Veejay Lakshmi Engineering Works, at its meeting on 29-05-2025, considered a suggestion to merge its associate company Veejay Sales and Services Limited (VSSL) into itself. The company currently holds around 25.2% in VSSL. The Board noted potential benefits such as scale of operations and operational/administrative efficiency. It has decided to undertake a preliminary study by consulting Registered Valuers, a Merchant Banker, and Legal Consultants to assess the cost and benefits. A final decision will be taken at the next Board meeting.
This is only at a preliminary study stage — no final merger decision, share swap ratio, or NCLT filing has been announced yet. Shareholders should wait for the next Board meeting outcome and any subsequent detailed disclosures (swap ratio, valuation, scheme of arrangement) before interpreting this as a material event impacting the stock.