Oriental Carbon & Chemicals Limited has informed the Exchange regarding 'Change of Name from Oriental Carbon and Chemicals Limited to AG Ventures Limited pursuant to Scheme of Arrangement for Demerger to reflect the realigned business focus post transfer of Chemical Business to OCCL Limited'.
Awaiting price reaction for this filing.
Oriental Carbon & Chemicals Limited is changing its name to 'AG Ventures Limited' after its Chemical Business (Insoluble Sulphur and Sulphuric Acid) was demerged and transferred to OCCL Limited, the resulting company. The move follows a Scheme of Arrangement approved by the NCLT Ahmedabad bench on April 10, 2024 and upheld by the NCLAT New Delhi on May 27, 2024. The name change forms have been filed with the Ministry of Corporate Affairs and approval is awaited. The new identity reflects the company's realigned business focus post-demerger, and the company's website is now www.agventuresltd.com.
Shareholders will see the company operate under a new name and likely a new business identity, while the chemical operations now sit with OCCL Limited. This is a formal administrative step completing a previously approved restructuring and may affect how investors classify and value the stock going forward.