Pitti Engineering (PEL) has announced a scheme to merge its wholly-owned subsidiaries, Pitti Industries (PIPL) and Dakshin Foundry (DFPL), into PEL.

This move aims to simplify the corporate structure, boost operational efficiency, unlock synergies, and reduce costs across their similar manufacturing businesses.

PEL, with a turnover of ₹1,511.87 Cr, will integrate PIPL (₹240.84 Cr turnover) and DFPL (₹67.80 Cr turnover) to build a stronger growth foundation.

Crucially, as both are wholly-owned, there will be no new share issuance by PEL, meaning no dilution for existing shareholders.

The merger is subject to statutory and NCLT approvals.