Mercantile Ventures Ltd

📢 Mercantile Ventures Clears Key Hurdle in Amalgamation with India Radiators

- Mercantile Ventures Limited received a 'No Adverse Observation' letter from BSE on October 14, 2025.

- The letter follows SEBI's 12 comments on the draft amalgamation scheme with India Radiators Limited.

- Key SEBI requirements include disclosing ongoing legal proceedings and ensuring updated financials.

- New equity shares must be issued in demat form.

- All liabilities of India Radiators Limited will transfer to Mercantile Ventures.

- Shareholders must receive detailed disclosures on assets, liabilities, and merger rationale.

- The observation letter is valid for six months; NCLT submission must occur within this period.

- BSE may withdraw its approval if submitted information is incomplete or misleading.