Hindustan Foods Limited has informed the Exchange regarding allotment of 48139085 securities pursuant to Scheme of Arrangement/Amalgamation at its meeting held on May 21, 2026
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Hindustan Foods Limited's Share Allotment Committee approved the allotment of 48,139,085 equity shares of INR 2 each to shareholders of Avalon Cosmetics Private Limited (Demerged Company) and Vanity Case India Private Limited (Transferor Company). This is pursuant to a Scheme of Arrangement approved by NCLT Mumbai on February 25, 2026. The company's equity share capital increased from approximately INR 23.90 crore to INR 24.23 crore. Simultaneously, 46,458,145 equity shares held by the Transferor Company in HFL were cancelled due to cross-holding, resulting in a net increase of about 1.68 crore shares. Fractional entitlements were consolidated and allotted to a trust managed by Axis Trustee Services Limited for sale and distribution to entitled shareholders.
This marks the completion of a significant corporate restructuring through demerger and amalgamation, bringing cosmetics and vanity-related businesses under Hindustan Foods Limited. The net dilution is minimal at around 1.4%, but the company now has a larger equity base and expanded business operations. Shareholders of the demerged entities received HFL shares as consideration.