Kesoram Industries has made a public announcement regarding scheme of arrangement between Kesoram Industries Limited (Demerged Company) and UltraTech Cement Limited (Resulting Company). This scheme of arrangement was approved by the Hon’ble National Company Law Tribunal (NCLT), Kolkata Bench. For the purpose of this corporate action, 10 March 2025 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 52 equity share of Rs 10 each fully paid-up held by equity shareholders of the Demerged Company. In other words, if you held 500 shares of Kesoram Industries as on the record date, you will receive 9 shares of UltraTech Cement. Any remaining amount due to fractional shares will be credited to your registered bank account.
The resulting company is currently unlisted. Its shares will appear in your unlisted section once credited to your demat account and will be visible in your portfolio upon listing on the exchange. Trading will be possible once the company applies for listing.
The average buy price of your existing Kesoram Industries holdings will be updated after the company announces its Cost of Acquisition (COA).
What do you think about this order by the NCLT? Feel free to use this thread to discuss.