Vraj Iron and Steel Limited — JV/Acquisition, 02-12-2025: Amalgamation/Merger

Vraj Iron and Steel (VISL) announced a merger where promoter companies Kirti Ispat, Utkal Ispat, and V.A. Transport will merge into Gopal Sponge and Power. This aims to consolidate business operations, reduce compliance costs, and establish a single holding company for VISL, driving synergy benefits and operational efficiency. Post-merger, Gopal Sponge's stake in VISL will increase from 54.52% to 71.36%, making it the sole holding entity. The swap ratios are 1.21 shares of Gopal Sponge for Kirti Ispat, 0.96 for Utkal Ispat, and 9.33 for V.A. Transport. This internal restructuring does not impact public shareholding.