Modern Insulators Limited (MIL) has made a public announcement regarding a Scheme of Arrangement (Demerger) between Modern Insulators Limited (Demerged Company) and Modern Polytex Limited (Resulting Company).
This scheme of arrangement was approved by the Hon’ble National Company Law Tribunal (NCLT), Delhi Bench. For the purpose of this corporate action, 31 October 2025 has been fixed as the record date.
As per the scheme, shareholders of Modern Insulators Limited will receive:
1 equity share of ₹10 each fully paid-up of Modern Polytex Limited for every 2 equity shares of ₹10 each fully paid-up held in Modern Insulators Limited.
For example, if you held 500 shares of Modern Insulators Limited as on the record date, you will receive 250 shares of Modern Polytex Limited.
Any remaining fractional entitlement, if applicable, will be settled as per the scheme terms.
The resulting company, Modern Polytex Limited, will be listed on BSE Limited once the necessary formalities are completed. Until then, its shares will appear under the unlisted section of your demat account and become tradable after listing.
The average buy price of your existing Modern Insulators holdings will be updated after the company announces the Cost of Acquisition (COA) post-demerger.
What do you think about this order by the NCLT? Feel free to use this thread to discuss.