Corrigendum to the outcome of Board Meeting dated 12th March 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Western Ministil Limited has issued a corrigendum to its 12 March 2026 board meeting outcome, correcting details of its proposed acquisition of Micron Calcite Private Limited (MCPL). The company will acquire 10,000 equity shares (face value Rs. 10 each), representing 100% of MCPL's paid-up capital, at Rs. 454 per share, for a total consideration of Rs. 45.40 lakh, payable as per the valuation report. The deal is a related party transaction (common director Mr. Kalpesh Naginbhai Patel) done at arm's length price and is subject to shareholder approval under SEBI Regulation 23(4). MCPL, which had a turnover of about Rs. 2.23 crore in FY25, is engaged in industrial machinery trading, packaging containers, and chemical distribution. Upon completion (expected within 2 months), MCPL will become a Wholly Owned Subsidiary of Western Ministil, marking the company's entry into a new line of business.
For shareholders: This is a small, related-party acquisition into a completely new business line. While it diversifies the company, the deal size is modest (~Rs. 45 lakh) and the target's turnover is small, so the near-term financial impact is likely limited. Shareholders should watch the upcoming general meeting for approval of this related party transaction.