Palco Metals Ltd — Updates, 30-06-2025: Company Update

Palco Metals Limited has announced a board meeting concerning the proposed amalgamation of its wholly owned subsidiary, Palco Recycle Industries Limited, into itself with effect from April 1, 2025. Palco Recycle Industries, engaged in aluminum recycling with turnover around Rs. 194 Cr in FY 2023-24, will transfer all its assets, liabilities, licenses, intellectual property, and employees to Palco Metals at their carrying values. No new shares will be issued; the subsidiary’s shares held by Palco Metals will be cancelled. The merger aims to streamline the corporate structure, enhance operational efficiency, and consolidate resources, thereby strengthening financial position and simplifying compliance. Pending litigation against the subsidiary will continue against Palco Metals post-merger. The subsidiary will be dissolved without winding up upon scheme effectiveness.