Paradeep Phosphates Limited has informed the Exchange regarding 'Report from the Audit Committee and Independent Directors of the Company certifying distribution of proceeds to eligible shareholders of fractional shares pursuant to the Composite Scheme of Arrangement amongst Paradeep Phosphates Limited, Mangalore Chemicals & Fertilizers Limited and their respective shareholders and creditors'.

Paradeep Phosphates has completed the final step of its merger with Mangalore Chemicals & Fertilizers (MCFL). The merger received NCLT approval in September 2025 and became effective on October 16, 2025. Under the scheme, MCFL shareholders received 187 Paradeep Phosphates shares for every 100 MCFL shares held, with a record date of October 31, 2025. During the share exchange, 23,217 fractional shares were allotted to PPL Merger Trust (managed by Vistra ITCL). These fractional shares were sold in the open market, and the net proceeds of Rs 25,89,626.96 (after TDS of Rs 11,801) were distributed to eligible MCFL shareholders on May 8, 2026. The Audit Committee and Independent Directors have certified this distribution complies with SEBI regulations.