IMFA gets approval for Utkal Coal Amalgamation

Indian Metals & Ferro Alloys Limited announces that the Scheme of Amalgamation with Utkal Coal Limited has become effective March 28, 2025 upon receipt of regulatory approvals and requisite filing.

Amalgamation Approved, Scheme Now Effective

The amalgamation, which was reported on 5 March 2025, was approved by the Regional Director-ER, Ministry of Corporate Affairs via its order dated 28 February 2025. The Scheme came into effect from the date of filing the certified copy of the order in Form INC-28 along with a copy of scheme with the Registrar of Companies, Odisha, on March 28, 2025. The ROC formally accepted the filing in May 2025.

Revised Share Capital Structure

Following the merger, IMFA’s authorised share capital has increased from ₹63.5 crore to ₹88.5 crore. The combined capital structure post-amalgamation is now:

Composition of Revised Share Capital:

• Equity: 8,50,00,000 shares of ₹10 each
• Preference Shares:
  • 40,000 of 9.5% Redeemable Cumulative Preference Shares (₹100 each)
  • 2,60,000 Second Series Redeemable Cumulative Preference Shares (₹100 each)
  • 50,000 Redeemable Cumulative Preference Shares (₹100 each)

Accordingly, Clause 5 of IMFA’s Memorandum of Association has been amended to reflect the revised capital structure.

Strategic Implications

The amalgamation is intended to simplify the business operations, improve capital allocation and create a unified platform for creating long-term value. The development is in line with IMFA’s holistic strategy of integrated operations and operations efficiency in the ferro alloys and energy value chain.

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REF: https://nsearchives.nseindia.com/corporate/IMFA_27052025215807_Amalgamationapproval.pdf