Digjam Limited has informed the Exchange regarding Resignation of Mr Mr. Parashiva Murthy B S as Non- Executive Independent Director of the company w.e.f. Jun 29, 2025.
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Digjam Limited's board, at its meeting on June 29, 2025, accepted the resignation of Mr. Parashiva Murthy B S as Non-Executive Independent Director, effective the same day, citing personal reasons. In his place, the board appointed Mr. Ruchit Bharat Patel (DIN: 00603359) as an Additional Non-Executive, Non-Independent Director. The board also approved a major Scheme of Arrangement to demerge the textile business of Reid & Taylor International Private Limited (RTIL) into Digjam, with an appointed date of July 1, 2025. The demerged undertaking had a turnover of Rs. 48,881.12 lakhs, which is 2,686% of Digjam's existing turnover, signalling a massive scale expansion. Shareholders of RTIL will receive 46,481 equity shares of Digjam for every 100 shares held, resulting in the issuance of about 7.13 crore new shares.
This is a significant corporate restructuring — the demerger will dramatically scale up Digjam's textile business and is subject to approvals from SEBI, stock exchanges, NCLT, shareholders, and creditors. The promoter holding will marginally dilute from 75% to 74.97% post-scheme. Shareholders should watch for the NCLT approval timeline and the share swap ratio implications for stock price.