Dalmia Bharat Sugar and Industries Limited has informed the Exchange regarding 'Approval of Scheme of Amalgamation by NCLT Order'.
DALMIASUG · price
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The NCLT Chennai Bench has approved the Scheme of Amalgamation of Baghauli Sugar and Distillery Limited (BSDL), a 100% wholly owned subsidiary, into Dalmia Bharat Sugar and Industries Limited (DBSIL) with effect from the appointed date of April 1, 2024. BSDL will stand dissolved once the certified copy of the order is filed with the Registrar of Companies. Since BSDL is a wholly owned subsidiary, no new shares will be issued by DBSIL and its share capital structure remains unchanged. BSDL was originally acquired by DBSIL through the IBC Resolution Plan approved in November-December 2023, with an infusion of Rs. 139.69 crore plus an additional Rs. 2.3 crore as working capital.
This is an internal restructuring of the Dalmia Bharat Group with no impact on DBSIL's share capital or shareholder ownership. Existing shareholders of DBSIL remain unaffected, as no shares are being issued or cancelled in the listed entity. The consolidation simplifies the corporate structure and may bring minor operational efficiencies, but is largely a procedural step following the 2023 acquisition.