Equity shareholders of Manaksia Coated Metals & Industries Limited have approved the amalgamation with JPA Snacks Private Limited. The resolution was passed with the requisite majority during a meeting held on June 8, 2026, via video conferencing. The approval secures the necessary shareholder consent to proceed with the scheme, which will now be placed before the National Company Law Tribunal, Kolkata Bench for final orders under Sections 230 to 232 of the Companies Act, 2013.

Shri Parikshit Poddar, Advocate, appointed by the Hon'ble National Company Law Tribunal, 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 Ms. Bidisha Achari, Practising Company Secretary, who submitted the report on June 11, 2026.

Equity Shareholders Voting Results

The voting results indicated overwhelming support for the merger proposal from the equity shareholders. A total of 64 equity shareholders cast valid votes in favour of the resolution, representing 99.99% of the total value of votes cast.

Meeting Details

The notice for the meeting was issued on May 7, 2026. The Scheme of Amalgamation was explained to the shareholders present, and queries raised were duly addressed by the company. The resolution was passed with the necessary three-fourths majority in value as required under Section 230(6) of the Companies Act, 2013. The meeting was conducted using the platform provided by the company, with support from National Securities Depository Limited facilitating the e-voting process.

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.

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.