Chembond Chemicals Ltd has informed the Exchange about Update on Composite Scheme of Arrangement regarding Allotment made by the Chembond Chemical Specialties Limited ("Resulting Company") of 2,68,96,576 new Equity Shares of face value of Rs. 5/-each to the eligible shareholders of the Chembond Chemicals Limited ("Demerged Company"), at a Share Entitlement ratio 1:2 (two new equity share for every one share held) as on the Record date, which was Friday, May 9, 2025 and cancellation and reduction of Pre-Scheme Paid-up Share Capital of Resulting Company.
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Chembond Chemicals Limited has allotted 2,68,96,576 new equity shares (face value Rs. 5 each) of Chembond Chemical Specialties Limited (CCSL) to eligible shareholders at a ratio of 1:2 (two new shares for every one share held), with the record date being May 9, 2025. This is part of a Composite Scheme of Arrangement involving the demerger of business from Chembond Chemicals into CCSL and transfer of other businesses from entities like Chembond Clean Water Technologies, Chembond Material Technologies, Phiroze Sethna, and Gramos Chemicals. Additionally, the pre-scheme paid-up capital of CCSL (10,000 shares held entirely by Chembond Chemicals) has been cancelled. Following this allotment and cancellation, CCSL will no longer be a wholly-owned subsidiary of Chembond Chemicals.
Eligible shareholders of Chembond Chemicals will receive new shares of CCSL credited to their demat accounts pending necessary approvals, effectively restructuring the group. Shareholders should expect their holding structure to change as the demerger completes, with CCSL emerging as a separately listed entity with its own shareholder base.