Corporate Action – Demerger of Sanofi India Limited

Sanofi India Limited has made a public announcement regarding scheme of arrangement between Sanofi India Limited (“Demerged Company”) and Sanofi Consumer Healthcare India Limited (“Resulting Company”). This scheme of arrangement was approved by the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, through its order dated 7 May 2024. For the purpose of this corporate action, 13 June 2024 is the record date.

As per the scheme of arrangement, 1 equity share of Rs 10 each fully paid-up of the Resulting Company will be issued for every 1 equity share of Rs 10 each fully paid-up held by equity shareholders of the Demerged Company. In other words, if you held 100 shares of Sanofi India Limited as on the record date, you will receive 100 shares of Sanofi Consumer Healthcare India Limited. Note that the resulting company as of now is not listed. Once the company applies for listing in the exchange(s), you will be able to see them in your Dhan portfolio. However, you can see the shares in your demat holding statement even before its listing.

What do you think about this order by the NCLT? Feel free to use this thread to discuss.