RDB Realty & Infrastructure has made a public announcement regarding scheme of arrangement between RDB Realty & Infrastructure Limited (Parent Company or Demerged Company) and RDB Real Estate Constructions Limited (Child Company or 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, 21 August 2024 is the record date.
As pe 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 RDB Realty & Infrastructure as on the record date, you will receive 100 shares of RDB Real Estate Constructions 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.