Setco Automotive Board Approves Merger, Restructures Overseas Operations

Setco Automotive Ltd announced the outcome of its Board meeting held on October 23, 2026. The Board approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, along with the Limited Review Report. Key decisions included approving a revised Scheme of Amalgamation for merging its wholly-owned subsidiary, Lava Cast Private Limited (LCPL), with the company. Additionally, the Board approved a rationalization of its overseas corporate structure, involving a buyback of shares in Shilayan Automotive UK Limited (SAUL), voluntary liquidation of WEW Holdings Mauritius, and consolidation of business operations of Setco MEA DMCC, Dubai, with SAUL. These proposals are subject to regulatory approvals.