Pondy Oxides & Chemicals Limited — JV/Acquisition, 04-08-2026: Amalgamation/Merger

POCL's board approved merging its wholly-owned subsidiary, Harsha Exito Engineering (HEEPL), with itself. This move aims to simplify the corporate structure, eliminate duplicate functions, boost operational efficiency, and achieve economies of scale for better value creation.

HEEPL, engaged in recycling non-ferrous metals, had a paid-up capital of ₹15.26 Cr and a turnover of ₹0.27 Cr as of March 2026. POCL's board believes this consolidation will streamline management and optimize resource utilization.

Since HEEPL is a wholly-owned subsidiary, there will be no new share issuance or cash payment, meaning no change in POCL's shareholding pattern for existing investors. The merger needs approval from the NCLT and shareholders.