Key Details

Symbol (NSE): MAITHANALL

Corporate Action: Merger by Absorption

Record Date: Not Applicable (No share entitlement)

Nature of Scheme: Merger by Absorption of wholly-owned subsidiary into holding company

Entities Involved:

  • Transferor Company: Impex Metal & Ferro Alloys Limited (wholly-owned subsidiary)
  • Transferee Company: Maithan Alloys Limited (holding company)

Share Entitlement Ratio: No shares will be allotted by the Transferee Company pursuant to the Scheme as the entire share capital of the Transferor Company is held by the Company and its nominees.

Implied Capital Structure Impact: No change in issued share capital, paid-up capital, or promoter's holding percentage. Promoters would continue to hold the same percentage of shares in the Company pre and post amalgamation.

Post-Allotment Listing Plan: The Transferor Company (Impex Metal) was not listed on any stock exchange. The Transferee Company (Maithan Alloys) remains listed on NSE and CSE and permitted for trading on BSE.

Regulatory and Approval Status: Hon'ble National Company Law Tribunal, Kolkata Bench approved and sanctioned the Scheme vide Order dated 8th June, 2026.

Effective Date: The Scheme will become effective upon filing of the certified copy of the NCLT Order in Form INC-28 with the Registrar of Companies, Kolkata.

Financial Rationale:

  • Simplification of group structure and business operations
  • Reduction of duplication of administrative responsibilities and multiplicity of records
  • Reduction of legal and regulatory compliances
  • Pooling of resources (manpower, management, administration, marketing)
  • Operational synergies and cost savings
  • Strengthening financial position and increased leverage capacity
  • Improved shareholder value through stronger financial base

Impact on Shareholders: No change in ownership structure or promoter holding percentage. All assets, rights, liabilities and duties of Transferor Company will be transferred to Transferee Company. All pending proceedings against Transferor Company will continue against Transferee Company.