Brigade Enterprises Limited has informed the Exchange about Intimation under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 ( LODR Regulations ) - Amalgamation of M/s. Tandem Allied Services Private Limited, Step-Down Subsidiary with M/s. WTC Trades & Projects Private Limited, Wholly Owned Subsidiary of Brigade Enterprises Limited (the Company)
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Brigade Enterprises has informed the stock exchanges that the NCLT Bengaluru Bench has sanctioned the amalgamation of its step-down subsidiary Tandem Allied Services Private Limited with its wholly owned subsidiary WTC Trades & Projects Private Limited. The scheme was filed with the MCA on 21st July 2025, which is also the effective date. Both companies are in the facility management business, with WTC being significantly larger (turnover of Rs. 17,007 lakhs vs. Tandem's Rs. 2,776 lakhs as on 31st March 2025). The share exchange ratio is 2.92 equity shares of Tandem for every 1 equity share of WTC. The rationale is to streamline the corporate structure, achieve operational synergies, and reduce inter-company transactions. There is no change in the shareholding pattern of the listed parent company Brigade Enterprises.
This is an internal restructuring between two subsidiaries and does not affect Brigade's shareholding or consolidated financials in a material way. It is a housekeeping move aimed at simplifying the group structure and cutting administrative costs, with no direct impact on retail shareholders.