We are pleased to inform you that the Board of directors of Modern Insulators Limited ("the Company") in consultation wth Modern Polytex Limited("MPL") have fixed 31st October, 2025 as ....
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The Board of Modern Insulators Limited (MIL), in consultation with Modern Polytex Limited (MPL), has fixed 31st October 2025 as the Record Date for the Scheme of Arrangement between the two companies and their respective shareholders and creditors. Under the scheme, eligible MIL shareholders whose names appear in the register of members on the Record Date will be entitled to receive 1 fully paid-up equity share of MPL (face value Rs. 10) for every 2 fully paid-up equity shares held in MIL (face value Rs. 10). This follows BSE's approval received in April 2024 for fixing the record date. The arrangement is a corporate restructuring in which MPL shares are being distributed to existing MIL shareholders.
MIL shareholders holding shares as of 31st October 2025 will receive MPL shares at a 1:2 ratio, giving them a direct stake in Modern Polytex Limited and effectively crystallising the value of the demerged/separated business. The stock may see pre-record-date activity as investors position for the share entitlement.