Mercantile Ventures Limited has passed a circular resolution by its Board of Directors on August 04, 2026, approving the allotment of equity shares pursuant to the Scheme of Amalgamation between India Radiators Limited (Transferor Company) and Mercantile Ventures Limited (Transferee Company).
The allotment involves 1,53,161 equity shares of ₹10 each, fully paid-up, to be issued to eligible shareholders of India Radiators Limited. This follows the previously communicated record date of July 24, 2026, for determining shareholder eligibility.
The share exchange ratio is set at 10 fully paid-up equity shares of Mercantile Ventures Limited for every 36 fully paid-up equity shares held in India Radiators Limited.
Capital Structure Impact
Consequent to this allotment, the company's paid-up equity share capital has increased from 11,19,18,195 equity shares to 11,20,71,356 equity shares, all of face value ₹10 each.
Next Steps
The company is currently completing other formalities related to the share issue and listing process. Necessary documents will be filed with BSE Limited to seek listing and trading approvals for the newly allotted shares.