Smiths & Founders

Smiths & Founders (India) Ltd. has signed a merger agreement to merge SKF Elixer India Private Limited into itself. SKF Elixer reported a turnover of ₹235.45 crore and paid-up capital of ₹15.45 crore, far exceeding Smiths & Founders' ₹13.98 crore turnover and ₹10.20 crore paid-up capital. The merger is aimed at growth and diversification in the engineering and capital goods sector. No cash consideration or share exchange ratio has been disclosed yet. The deal remains subject to regulatory approvals, shareholder consent, and other conditions.

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Smiths & Founders (India) Ltd. said its board has approved a proposal to explore a merger with SKF Elixer India Private Limited. The decision, taken at a board meeting on June 10, 2026, is subject to completion of due diligence, valuation, and finalization of a scheme of merger. The company will also need approvals from shareholders, creditors, stock exchanges, regulators, and the National Company Law Tribunal. The board has authorized the appointment of intermediaries and delegated authority to the managing director to proceed with the process. No financial details or timeline were disclosed.

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(Compiled by Roshni Srivastava in Bengaluru)

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Jan 29 (Reuters) - Smiths & Founders (India) Ltd SMFL.BO:

• APPOINTMENT OF SUPRIYA SHASTRY AS CFO

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