The Board of Directors of Maithan Alloys Limited (MAL) approved a scheme of amalgamation/merger between Impex Metal & Ferro Alloys Limited (Impex) and Maithan Alloys Limited in its meeting held on 28th May, 2025.
The scheme is subject to statutory/regulatory approvals, including the approval of the Registrar of Companies, West Bengal (RoC) and/or National Company Law Tribunal (NCLT).
There will be no change in the Promoter's holding in the company post-amalgamation.
Impex and MAL are mainly engaged in the manufacturing and trading of Ferro Manganese, Silicon Manganese and Ferro Silicon.
Impex has suspended its manufacturing operations since April 2023 due to a steep increase in power costs.
Rationale for the amalgamation:
Economies in administrative and managerial costs by consolidating operations.
Pooling of resources and streamlining business operations.
Strengthening financial position and increased leveraging capacity.
Meeting future challenges in a competitive business environment.
Resulting in improved shareholder value.
MAL had a total income of ₹ 2,546.27 Crore and PAT of ₹ 640.23 Crore on a standalone basis for the year ended 31st March, 2025.
Impex had a total income of ₹ 24.64 Crore and a loss (after tax) of ₹ 9.16 Crore on a standalone basis for the year ended 31st March, 2025.
MAL holds 100% equity stake in Impex.
The equity shares held by MAL in Impex shall stand cancelled upon the Scheme becoming effective, and no shares of MAL shall be issued/allotted in lieu of such cancellation.