Signature Green Corporation Approves Amalgamation with Wholly Owned Subsidiary Arvind Foods

Signature Green Corporation Limited (formerly Sagar Soya Products Limited, CIN: L15141MH1982PLC267176, BSE Scrip Code: 507663) announced that its Board of Directors, in a meeting held on Thursday, March 5, 2026 from 3:30 PM to 4:20 PM, principally approved a Scheme of Amalgamation with its wholly owned subsidiary Arvind Foods Limited, subject to regulatory and stakeholder approvals.

The proposal aims to consolidate identical businesses under common management, enabling synergy in operations, cost reduction, economies of scale, unified compliance, and improved access to financial resources for growth. Both entities operate in food products, edible oils, oilseeds, animal feeds, and nutritional products, with SGCL reporting net worth of INR 1279.96 lakhs and AFL at INR 93.72 lakhs as on March 31, 2025.

No new shares will be issued by SGCL, as AFL's entire paid-up share capital will stand cancelled without consideration, resulting in no change to SGCL's shareholding pattern. AFL, a related party as a wholly owned subsidiary, will dissolve without winding up, exempt from Section 188 requirements per MCA Circular dated July 17, 2014.

The Board constituted a Corporate Restructuring Committee with delegated powers, approved an Appointed Date subject to approvals, appointed a SEBI-registered Merchant Banker for fairness opinion, and authorized representatives for regulatory filings. Detailed terms including share exchange ratio will be finalized at a future Board meeting.

Source : Equity Bulls

Keywords

SignatureGreenCorporation Merger ArvindFoods