PIB News Update: The Competition Commission of India (CCI) approves the proposed amalgamation of Srikalahasthi Pipes Limited (SPL) with and into Electrosteel Castings Limited (ECL) under Section 31(1) of the Competition Act, 2002, today.
ECL is a publicly listed company in India and ultimate holding company of the Electrosteel group of companies. It is primarily engaged in the business of manufacturing and supply of ductile iron pipes, ductile iron fittings and cast iron pipes.
SPL is a publicly listed company in India and also a part of the Electrosteel group. It is engaged in the business of manufacturing and supply of ductile iron pipes.
The proposed combination is an amalgamation of SPL with and into ECL pursuant to a scheme of amalgamation, such that, post the amalgamation, SPL will dissolve and ECL will be the surviving entity.
Detailed order of the CCI will follow.