Driving Synergies: Mercantile Ventures and India Radiators Unite!

Mercantile Ventures Limited has formally sanctioned the amalgamation of India Radiators Limited with its business. The strategic amalgamation will enhance Mercantile Ventures' portfolio and make business easier. In terms of the merger, a share exchange ratio has been determined to facilitate even distribution of the shares among India Radiators shareholders.

Important Points:
Amalgamation Approval: The Board of Directors of Mercantile Ventures Limited has approved the amalgamation of India Radiators Limited into its framework.

Share Exchange Ratio: The share exchange ratio is fixed at 10:36, i.e., for every 36 shares held by shareholders of India Radiators, they will get 10 shares of Mercantile Ventures.

Issuance of Shares: New shares will be issued by Mercantile Ventures to India Radiators shareholders in the process of amalgamation.

Strategic Acquisition Backdrop: Mercantile Ventures had earlier in July 2024 acquired 38.41% of India Radiators' stake, thus setting the ground for this merger.

Improved Business Synergies: This merger is likely to streamline operations for Mercantile Ventures' multi-business segments of leasing, security services, and investment operations.

Relevant Sources: MarketScreener, Economic Times