Corporate News
Maharashtra Seamless Limited announced a scheme of arrangement amongst Maharashtra Seamless Limited, MSL Seamless Tubes Limited, and United Seamless Limited, wholly owned subsidiaries of MSL, and their respective shareholders and creditors, with an effective date of October 1, 2026. The scheme involves the demerger of two undertakings: one with a seamless pipe manufacturing business located at Mangaon, Maharashtra, with a capacity of 125,000 metric tons per annum, and another with a seamless pipe manufacturing facility located at Narketpally, Telangana, with a capacity of 200,000 metric tons per annum. Under the scheme, MSL Seamless Tubes Limited will issue one equity share for every five shares held in Maharashtra Seamless Limited, and United Seamless Limited will issue one equity share for every five shares held in Maharashtra Seamless Limited, resulting in a proportionate shareholding structure and a value-neutral outcome for Maharashtra Seamless Limited shareholders.