The National Company Law Tribunal (NCLT) Ahmedabad Bench has given its approval for the merger of EV Nest Private Limited into Mercury EV-Tech Limited , marking a significant development in the electric vehicle sector. The order, pronounced on September 18, 2025, sets the stage for consolidation and potential growth in the EV industry.

Key Details of the Merger

• Appointed Date: The merger is effective from April 1, 2023.
• Companies Involved:
  • Transferor Company: EV Nest Private Limited (CIN: U45209GJ2015PTC083192)
  • Transferee Company: Mercury EV-Tech Limited (CIN: L27109GJ1986PLC008770)
• Stock Exchange Listing: Mercury EV-Tech Limited is listed on the Bombay Stock Exchange.

Rationale and Benefits

The merger aims to achieve several strategic objectives:

1. Operational efficiency
2. Business synergies
3. Consolidation of stakeholder value

Impact on Shareholders and Employees

• Shareholders: As EV Nest Private Limited is a wholly-owned subsidiary of Mercury EV-Tech Limited, no new shares will be issued upon completion of the merger.
• Employees: All employees of EV Nest Private Limited will be transferred to Mercury EV-Tech Limited with terms and conditions not less favorable than their current arrangements, ensuring job security and continuity.

Financial and Regulatory Aspects

• The merger is structured under Sections 230 to 232 of the Companies Act, 2013.
• Mercury EV-Tech Limited will absorb all assets, liabilities, and employees of EV Nest Private Limited.
• The authorized share capital of EV Nest Private Limited will be added to that of Mercury EV-Tech Limited upon the scheme becoming effective.

Next Steps

1. Mercury EV-Tech Limited is required to file e-form INC-28 along with the copy of the NCLT order and scheme with the Registrar of Companies within 30 days.
2. The company must comply with all necessary regulatory filings, including those with the stock exchange.

Conclusion

This merger represents a strategic move in the EV sector, potentially strengthening Mercury EV-Tech Limited's position in the market. Stakeholders will be watching closely to see how this consolidation translates into operational and financial performance in the coming months.

Note: Investors are advised to consult financial experts before making any investment decisions based on this corporate action.

Mercury EV-Tech Limited has achieved a significant milestone in its journey towards sustainable transportation solutions. The company recently obtained approval from the International Centre for Automotive Technology (ICAT) to manufacture the MUSHAK EV, an innovative battery-operated 4-wheeler goods carrier vehicle.

Key Features of MUSHAK EV

The MUSHAK EV boasts impressive specifications that position it as a strong contender in the electric commercial vehicle market:

What sets the MUSHAK EV apart are its unique features:

1. Unbreakable Body: Ensuring durability and safety for goods transportation.
2. 100% Make in India: Supporting local industries and aligning with the nation's self-reliance initiatives.
3. Government Subsidy Eligibility: Qualifying for upcoming government subsidies, potentially making it an attractive option for businesses.

Strategic Implications for Mercury EV-Tech

The approval from ICAT represents more than just a regulatory clearance. According to the company's disclosure to the BSE, this development is viewed as a significant regulatory milestone that unlocks several growth opportunities:

• Market Expansion: The approval paves the way for Mercury EV-Tech to enter the electric goods carrier segment, diversifying its product portfolio.
• Revenue Growth: With the green light for manufacturing, the company can now commercialize the MUSHAK EV, potentially opening new revenue streams.
• Operational Excellence: This achievement is expected to strengthen the company's overall performance in the electric vehicle sector.

Long-Term Prospects

Importantly, the manufacturing approval for the MUSHAK EV is valid in perpetuity. This long-term clearance provides Mercury EV-Tech with a stable foundation to plan and execute its production and marketing strategies without the immediate concern of regulatory renewals.

As the electric vehicle market in India continues to evolve, especially in the commercial segment, Mercury EV-Tech's MUSHAK EV could play a pivotal role in addressing the growing demand for eco-friendly goods transportation solutions. The company's focus on durability, local manufacturing, and potential cost benefits through government subsidies positions the MUSHAK EV as a promising product in the emerging electric commercial vehicle landscape.