HSCL board approves demerger of Dalmia Bharat Refractories Tyre Business into HSCL

Demerger ratio announcedScheme filed with the NCLTAcquisition announcedStrategic Transactions View source PDF Explain this filing

HSCL · price

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Price reactionminutes from the announcement price · days from the prior close

-0.4%Reaction day

₹677.00

prior close

₹687.65

announcement price

In-mkt

timing

Nifty Smallcap 250market-0.0%-0.3% vs market

Chemicals & Petrochemicals peers, median of 206sector · industry level+0.3%-0.7% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Smallcap 250 and 0.7 pts less than its Chemicals & Petrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-0.4-0.0-0.3+0.3-0.7

Next day

-1.1-0.1-0.9-0.0-1.0

-1.3+0.7-2.0+0.8-2.2

+0.0-0.7+0.7+0.1-0.1

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-0.7-2.3+1.6-1.1+0.4

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15d

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-20.2-6.8-13.4-5.5-14.7

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UpDownMarket · Nifty Smallcap 250Sector · Chemicals & Petrochemicals peers, median of 206Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Himadri Speciality Chemical board approved a scheme of arrangement under which the Tyre Business of Dalmia Bharat Refractories Limited will demerge into HSCL as a going concern. Appointed date is 1 October 2026. Share entitlement ratio is 1 HSCL equity share (face value INR 1) for every 260 DBRL shares (face value INR 10). No cash consideration. Demerged undertaking turnover was INR 149.31 crores, about 3.39 percent of HSCL turnover. Subject to NCLT, SEBI and stock exchange approvals.

Likely market impact

Forward integration into tyres value chain, synergies in sourcing and manufacturing. Minor dilution as promoter holding shifts from 52.49% to 52.47%. Subject to NCLT and SEBI approvals.