Intimation for fixation of Record Date for the purpose of allotment of equity shares
BENGALASM · price
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The composite Scheme of Arrangement involving Umang Dairies Ltd (UDL), Panchmahal Properties Ltd (PPL), and Bengal & Assam Company Ltd (BACL) has become effective on 17 June 2025, after certified copies of NCLT orders (Allahabad and Kolkata Benches) were filed with the respective Registrars of Companies. Under the scheme, UDL's Dairy Business will be demerged into PPL, and the residual UDL will merge into BACL. The record date for determining eligible UDL shareholders is fixed as 27 June 2025. Two share swap ratios apply: 1 BACL equity share (FV INR 10) for every 92 UDL shares for the demerger of the Dairy Business, and 1 BACL share for every 14,652 UDL shares for the amalgamation of the residual business. BACL will issue and allot equity shares to UDL shareholders accordingly.
UDL shareholders will receive BACL shares based on the two prescribed swap ratios and effectively become shareholders of BACL, which will absorb the residual UDL business while the dairy operations move to PPL. The restructuring simplifies the group structure and may increase BACL's shareholder base, but the very low ratio for the residual amalgamation (1:14,652) means most of the value transfer happens through the 1:92 dairy demerger ratio.