India Radiators Limited announced that the National Company Law Tribunal has approved its Scheme of Amalgamation with Mercantile Ventures Limited.

Under the scheme, shareholders of India Radiators will receive 10 equity shares of Mercantile Ventures (face value INR 10 each, fully paid) for every 36 equity shares of India Radiators (face value INR 10 each, fully paid). This amalgamation is set to combine operations, reduce costs, and enhance overall business efficiency.

India Radiators will dissolve, with its assets, liabilities, and employees transferring to Mercantile Ventures.

The scheme's appointed date is January 1, 2025.