Shanti Educational Initiatives Announces Two-Phase Merger with GREW Energy

Shanti Educational Initiatives Limited announced a two-phase merger involving Shanti Learning Initiatives Private Limited and GREW Energy Private Limited. The first phase includes a slump sale of Shanti Educational's business to Shanti Learning, followed by its amalgamation with GREW Energy. Shareholders will receive 100 GREW Energy shares for every 212 Shanti Educational shares held. GREW Energy is a solar PV manufacturer expanding projects in Rajasthan and Madhya Pradesh. Shanti Educational serves educational institutions from preschool to post-graduation. Shares closed at Rs 198.95 on BSE.