Maharashtra Seamless: Demerger Scheme Approved
The Board of Directors of Maharashtra Seamless Ltd has approved a scheme of arrangement involving the demerger of two undertakings into MSL Seamless Tubes Limited and United Seamless Limited, both wholly-owned subsidiaries. The scheme, with an appointed date of October 1, 2026, is subject to approvals from the NCLT, shareholders, creditors, and other regulatory bodies. Demerged Undertaking 1 includes the seamless pipe manufacturing business at Mangaon and a captive solar power plant, while Demerged Undertaking 2 comprises the Narketpally facility, solar power plants in Rajasthan, and rig Jindal Explorer. The demerged undertakings contributed 16.98% and 14.84% respectively to the company's FY26 turnover.
Key Highlights
- Maharashtra Seamless approves demerger scheme into two subsidiary companies.
- Appointed date for the scheme is October 1, 2026, pending regulatory approvals.
- Demerged Undertaking 1 contributed ₹793 Cr (16.98%) to FY26 turnover.
- Demerged Undertaking 2 contributed ₹693 Cr (14.84%) to FY26 turnover.
- Post-scheme, public shareholding in MSL Seamless Tubes and United Seamless will be 29.7216%.
Price Impact
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