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Tilaknagar Industries (TIL) announced the merger of its wholly-owned subsidiaries, Punjabexpo Breweries and Vahni Distilleries, into itself. This move aims to consolidate group operations, unlock synergies, cut costs, and streamline compliances, enhancing TIL's efficiency and financial strength. No new shares will be issued, ensuring zero dilution for existing TIL shareholders. The subsidiaries reported a combined Net Worth of ~₹6 Cr and Total Income of ~₹9.2 Cr as of March 31, 2026. The merger is subject to NCLT and other regulatory approvals, reinforcing TIL's long-term value strategy.