Shareholders approve JPA Snacks merger scheme

Ordinary shareholders of Manaksia Coated Metals & Industries Limited have approved the scheme of merger with JPA Snacks Private Limited. The resolution was passed via a special resolution during a meeting held on June 8, 2026, through video conferencing. The approval secures the necessary shareholder consent to proceed with the scheme, which is subject to final orders from the National Company Law Tribunal (NCLT), Kolkata Bench under Sections 230 to 232 of the Companies Act, 2013.

Shri Parikshit Poddar, Advocate, appointed by the Hon'ble NCLT, Kolkata Bench, chaired the meeting. The proceedings commenced at 11:00 a.m. IST and concluded at 11:31 a.m. IST. Ms. Shruti Agarwal, Company Secretary, and Mr. Mahendra Kumar Bang, Chief Financial Officer, represented the company. The scrutinizer for the process was CS Bidisha Achari, Practising Company Secretary.

Shareholders Voting Results

The voting results indicated strong support for the merger proposal from the shareholders. A total of 40 members joined the meeting through video conferencing. The resolution secured the requisite majority, with 99.99% of the total votes polled cast in favour.

Category	Mode of Voting	Votes Polled	% of Outstanding	In Favour	Against	% In Favour	% Against
Promoter and Promoter Group	E-Voting	5,87,87,940	96.68	5,87,87,940	0	100	0
Public-Institutions	E-Voting	6,31,783	47.45	6,31,783	0	100	0
Public-Non Institutions	E-Voting	5,168	0.01	5,113	55	98.93	1.06
Total		5,94,24,891	56.15	5,94,24,836	55	99.99	0.0001

Meeting Details

Remote e-voting commenced on June 4, 2026, and concluded on June 7, 2026. The voting rights of the shareholders were reckoned based on the number of shares held as on the cut-off date of June 1, 2026. National Securities Depository Limited (NSDL) facilitated the e-voting process. The notice for the meeting was issued on May 7, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.40%	+5.09%	+16.68%	-5.45%	-5.43%	+772.87%

Sushil Kumar Agarwal, a member of the promoter group, has increased his shareholding in Manaksia Coated Metals & Industries Limited to 32.23% through an inter-se transfer of shares. The transaction involved the acquisition of 2,020,827 fully paid-up equity shares, representing 1.91% of the total paid-up equity share capital of the company. The shares were transferred by way of a gift from Sumitra Devi Agarwalla, a relative, on June 23, 2026.

The disclosure was submitted to the stock exchanges in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this acquisition, Agarwal held 32,088,205 shares, which accounted for 30.32% of the company's equity. The transfer did not involve any monetary consideration as it was structured as a gift among promoter group members.

Shareholding Pattern Changes

The transaction altered the shareholding distribution within the promoter group while the total promoter holding remained unchanged at 57.46%. The following table details the pre- and post-transaction shareholding figures for the acquirer and the seller.

Category	Shareholder	Pre Transaction Shares	Pre Transaction %	Post Transaction Shares	Post Transaction %
Acquirer	Sushil Kumar Agarwal	32,088,205.00	30.32	34,109,032.00	32.23
Seller	Sumitra Devi Agarwalla	2,020,827	1.91	0	0

Persons Acting in Concert

The filing also identified several Persons Acting in Concert (PAC) with the acquirer. While their individual holdings remained static during this specific transaction, they form part of the broader promoter group structure. Key PAC members include Shailaja Agrawal, Karan Agrawal, and Tushar Agrawal, among others.

The total equity share capital of Manaksia Coated Metals & Industries Limited stands at ₹10,58,34,050, comprising 10,58,34,050 equity shares of ₹1 each. This capital structure remained unchanged before and after the acquisition. The company's shares are listed on BSE Ltd and the National Stock Exchange of India Limited.