Indian Metals & Ferro Alloys Limited — JV/Acquisition, 05-03-2025: Amalgamation/Merger

Indian Metals & Ferro Alloys Limited has announced a board meeting regarding the approval of the Scheme of Amalgamation, merging Utkal Coal Limited into itself. Utkal Coal, a wholly-owned subsidiary, will dissolve without winding up, enhancing operational efficiency by eliminating fixed costs related to the Transferor Company. This amalgamation aims to streamline resource management and maximize shareholder value. With all necessary approvals secured, shareholders can expect benefits from a more simplified corporate structure and potential growth in operational capabilities. The effective date of the amalgamation will be as stipulated in the Scheme.