Shares of THIS company to be in focus after it announces major merger, check full details here

Shanti Educational will transfer its business to Shanti Learning Initiatives Private Limited (SLIPL) through a slump sale, in exchange for which SLIPL will issue its shares to Shanti Educational.

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New Delhi: Shares of Shanti Educational Initiatives Ltd, a small-cap company with a market cap of ₹3,203.10 crore, will be in focus when markets open on Wednesday as the company has announced a major merger in its latest exchange filing after market hours last Monday.

The company said in its filing that the boards of GREW Energy Private Limited and Shanti Educational Initiatives Limited have approved a proposed scheme of arrangement under which, in the first phase, Shanti Educational will transfer its business to Shanti Learning Initiatives Private Limited (SLIPL) through a slump sale, in exchange for which SLIPL will issue its shares to Shanti Educational.

In the second phase, Shanti Educational will be merged with GREW Energy and in return, GREW Energy will give its shares to the shareholders of Shanti Educational in the fixed ratio.

Here are some of the key details:

As per the agreed share exchange ratio, shareholders of Shanti Educational will get 100 shares of GREW Energy for every 212 shares they hold.
According to the filing, GREW Energy, a Chiripal Group company, is one of the country’s fastest-growing solar PV manufacturers.
The company is working on large solar manufacturing projects in Rajasthan and Madhya Pradesh.
Shanti Educational provides services to schools and educational institutions from pre-school to post-graduate levels.

Vinay Thadani, CEO and Director of GREW Energy Private Limited, said that this proposed merger is a significant step towards a comprehensive restructuring of the group. It will simplify and integrate the company’s structure, leading to greater operational efficiencies and more efficient processes.

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Vishal Chiripal, Managing Director of Shanti Educational Initiatives Limited, said, “This proposed merger will bring together the strengths of both companies to create a more robust and effective structure. We are confident that this will create greater value for shareholders and provide SEIL investors with an opportunity to be a part of GREW Energy Private Limited’s rapid growth journey.”

On Monday, the company’s stock closed at Rs 198.95, up 0.05% or Rs 0.10 on the BSE.