Maharashtra Seamless Merger & Restructuring Worth ₹1,486 Cr
Maharashtra Seamless approved a demerger of two units into separate subsidiaries. Shareholders will receive one share of each new entity for every five shares held.
- Value
- ₹1,486 Cr
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Maharashtra Seamless approved a demerger of two units into separate subsidiaries. Shareholders will receive one share of each new entity for every five shares held.
Maharashtra Seamless approved demerging its pipe and power undertakings into two separate subsidiaries. The restructuring aims to optimize capital allocation and enhance long-term stakeholder value.
Maharashtra Seamless Limited incorporated a new wholly-owned subsidiary, United Seamless Limited, with ₹0.05 Crore capital. The entity will focus on pipe manufacturing and oil exploration.
Maharashtra Seamless Limited has voluntarily struck off its subsidiary, Internovia Natural Resources FZ LLC. The subsidiary had a net worth of ₹0.40 Crore and zero income. The closure is not expected to impact the company's financial position or operations.