The NCLT Hyderabad Bench sanctioned a composite scheme of arrangement involving Bhagyanagar Copper Private Limited (BCPL), Bhagyanagar India Limited (BIL), and Tieramet Limited. The restructuring involves the transfer of the copper business into Tieramet Limited, creating a separate standalone entity for the business.
Key Scheme Details
Resulting Company: Tieramet Limited
Demerged Company: Bhagyanagar India Limited
Record Date: October 8, 2026
Under the scheme, eligible Bhagyanagar India shareholders will receive shares in Tieramet Limited based on the prescribed entitlement ratio.
Share Entitlement / Swap Ratio
Eligible Bhagyanagar India shareholders will receive:
1 fully paid-up equity share of Tieramet Limited of ₹2 face value for every 1 fully paid-up equity share of Bhagyanagar India Limited of ₹2 face value held as of the Record Date.
Accordingly, a shareholder holding 1,000 Bhagyanagar India shares on the Record Date would be entitled to 1,000 Tieramet shares.
Business Split
Tieramet Limited: Houses the transferred copper manufacturing business, creating a dedicated entity focused on the copper business.
Bhagyanagar India Limited: Continues with its remaining businesses and investments after the demerger.
Listing Details
The new Tieramet equity shares are intended to be listed separately, subject to the applicable regulatory and listing requirements.
Until then, these shares will appear under the unlisted section of your demat account and will be tradable post listing.
The Average buy price of your existing Bhagyanagar India holdings will be updated after the company announces the Cost of Acquisition (COA) post-demerger.
Corporate Restructuring Objectives
Business Focus: Creates a dedicated entity for the copper business.
Independent Value Discovery: Separating the copper business may allow investors to independently assess its performance and value.
Simplified Structure: The restructuring creates greater clarity between the copper business and Bhagyanagar India’s remaining operations.