This is to inform that a Court Convened Meeting of Equity Shareholders of the Company is scheduled to be held on Saturday, September 27, 2025 at 11:00 AM (IST) through VC/OAVM as per NCLT ....
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Prima Plastics Limited has called a Court Convened Meeting of equity shareholders on Saturday, September 27, 2025 at 11:00 AM (IST) via video conferencing, as directed by the NCLT Ahmedabad Bench under Sections 230-232 of the Companies Act, 2013. The meeting is to consider and approve a Scheme of Arrangement under which the company's 'Roto Business' will be demerged and transferred into Prima Innovation Limited (its 100% wholly-owned subsidiary / 'Resulting Company'), while Prima Plastics will retain the furniture and allied businesses. In consideration, the Resulting Company will issue equity shares to the shareholders of Prima Plastics; the entire pre-scheme share capital of the Resulting Company will be reduced and cancelled. A share entitlement ratio report dated November 12, 2024 has been issued by ICON Valuation LLP, and a fairness opinion has been provided by Kunvarji Finstock Private Limited; BSE had already issued its observation letter on March 28, 2025. Approval requires a majority in number representing three-fourths in value of shareholders present and voting (remote e-voting window: September 24-26, 2025; cut-off date: September 20, 2025). The Scheme is still subject to subsequent NCLT sanction and other regulatory approvals.
If shareholders approve and the NCLT sanctions the scheme, Prima Plastics will split into two listed entities — one focused on the Roto Business (via Prima Innovation Limited) and the other continuing the furniture business — and existing shareholders will receive shares in the new entity per the swap ratio. This restructuring aims to unlock value and offer sharper strategic focus, though the actual share-allocation ratio, timing, and listing of Prima Innovation Limited will determine short-term stock impact.