Mercantile Ventures has scheduled its 25th Annual General Meeting (AGM) for Thursday, September 24, 2026, at 11:00 am. The meeting will be conducted through Video Conferencing or Other Audio Visual Means to transact ordinary and special business items.

Shareholders holding shares as of the cut-off date, Thursday, September 17, 2026, can cast their votes electronically. The remote e-voting period opens on Monday, September 21, 2026, at 9:00 am and closes on Wednesday, September 23, 2026, at 5:00 pm.

Related Party Transaction with SPIC

The Board seeks shareholder approval for material related-party transactions with Southern Petrochemical Industries Corporation Limited (SPIC). The proposed transactions, valued at up to ₹20 crore, cover lease rentals, maintenance, housekeeping, manpower supply, and security services.

These transactions involve the parent company and its subsidiary, i3 Security Private Limited. The proposed amount represents 21.43% of Mercantile Ventures' annual consolidated turnover for FY26. For the subsidiary, i3 Security, the value constitutes 39.31% of its standalone annual turnover for the same period. During FY26, total transactions with SPIC amounted to ₹16.68 crore.

Management Reappointments

The AGM agenda includes the reappointment of Mr. K Gopalakrishnan as a Non-Executive Non-Independent Director. He retires by rotation and is eligible for re-appointment.

Additionally, shareholders are asked to approve the reappointment of Mr. E N Rangaswami as Whole-time Director for three years, from December 5, 2026, to December 4, 2029. His annual remuneration is fixed at ₹85 lakh per annum. This requires a special resolution as he has attained the age of 70 years.

Corporate Governance Updates

Mr. M S Niranjan resigned as an Independent Director effective July 31, 2025. The current board comprises six directors, including three independent directors. The company reported no frauds during the year under review.

What the Numbers Show

The reliance on SPIC for operational services is significant relative to the group's size. While the ₹20 crore cap represents a modest 0.68% of SPIC's own consolidated turnover, it accounts for nearly one-fifth of Mercantile Ventures' total revenue base. This concentration highlights the strategic importance of the relationship within the group's service delivery model.

Mercantile Ventures announced that its scheme of amalgamation between Walery Security Management Limited and i3 Security Private Limited became effective on August 22, 2026. The corporate action follows regulatory approvals and filings with the Registrar of Companies.

Scheme Details

The National Company Law Tribunal, Division Bench – II, Chennai, sanctioned the scheme on July 23, 2026. The Transferee Company filed Form INC-28 with the Registrar of Companies, Chennai, on August 22, 2026, triggering the effectiveness date. The appointed date for the scheme is January 1, 2024.

Walery Security Management Limited will be dissolved without winding up. Its Board of Directors and committees stand dissolved automatically upon the scheme's effectiveness.

Shareholding Impact

The amalgamation does not involve any change in the shareholding pattern of the listed company. The move consolidates subsidiaries under a single entity while maintaining existing ownership structures for Mercantile Ventures shareholders.