Indo-National Limited — Updates, 07-05-2025: Scheme of Arrangement

Helios Strategic Systems Limited, a wholly owned unlisted subsidiary, is set to merge with Indo-National Limited, a listed battery manufacturer. The merger aims to streamline the corporate structure, boost operational efficiency, lower overhead costs, and eliminate inter-company transactions. The boards of both companies have approved the plan, with Helios’s shareholders and creditors already on board. Indo-National will hold a shareholder meeting to approve the merger through e-voting. This consolidation is expected to enhance internal controls and create value for stakeholders.