India Radiators Limited has completed its amalgamation with Mercantile Ventures Limited, effective July 23, 2026. The merger follows the sanction of the Scheme of Amalgamation by the Hon'ble National Company Law Tribunal, Division Bench (Court–I) Chennai, via its order dated July 8, 2026. The Transferor Company filed Form INC-28 with the Registrar of Companies, Chennai, on July 23, 2026, along with the certified copy of the tribunal's order, making the scheme effective in accordance with its terms.

Pursuant to the effectiveness of the scheme, India Radiators Limited, as the Transferor Company, shall be dissolved without winding up. Additionally, the Board of Directors and any committees thereof of the Transferor Company have stood dissolved without any further act, instrument, or deed. The intimation was submitted to BSE Limited under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015.

Key Details of the Amalgamation

India Radiators Limited has fixed July 24, 2026, as the record date to determine shareholders eligible to receive equity shares of Mercantile Ventures Limited pursuant to the sanctioned Scheme of Amalgamation. The National Company Law Tribunal (NCLT) sanctioned the scheme on July 08, 2026, approving the merger of India Radiators Limited as the transferor company with Mercantile Ventures Limited as the transferee company. This record date is critical for shareholders to qualify for the share exchange under the approved arrangement.

Under the terms of the scheme, shareholders of India Radiators Limited will receive 10 fully paid-up equity shares of ₹10 each in Mercantile Ventures Limited for every 36 fully paid-up equity shares of ₹10 each held in the transferor company. The appointed date for the amalgamation is January 01, 2025. The scheme will become effective from the date the certified copy of the NCLT order is filed with the Registrar of Companies, Chennai.

Key Details of the Scheme

The amalgamation scheme was proposed under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The intimation regarding the outcome of the circular resolution passed on July 13, 2026, was submitted to the stock exchange in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.