MAHSEAMLESMaharashtra Seamless Limited
Maharashtra Seamless’ board approves demerger of two seamless pipe undertakings into wholly owned subsidiaries
- Mergers & acquisitions
- Steel And Steel Products
Maharashtra Seamless Limited has told the exchanges that its board, at a meeting on 7 Oct 2026 from 3:45 PM to 5:00 PM, approved a scheme of arrangement with MSL Seamless Tubes Limited and United Seamless Limited, both wholly owned subsidiaries, with an appointed date of 1 Oct 2026. Demerged Undertaking 1 is the Mangaon, Maharashtra seamless pipe business (125,000 MTPA) with a 10 MW captive solar plant at Beed. Demerged Undertaking 2 is the Narketpally, Telangana facility (200,000 MTPA) with solar plants in Rajasthan and the rig Jindal Explorer.
For FY 2025-26, the two undertakings had turnover of ₹793 crore (16.98% of the company’s ₹4,671 crore) and ₹693 crore (14.84%), with ₹3,185 crore (68.18%) remaining. The scheme needs approval from the NCLT, shareholders and creditors and other authorities.
Inference
The scheme moves about 32% of turnover into two subsidiaries that the company owns fully. It is not complete, because it still needs the tribunal and other approvals, and the filing in the part reviewed here does not give a timetable.
Reference: Original filing (PDF)
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