This is to inform that a Court Convened Meeting of Unsecured Creditors of the Company is scheduled to be held on Saturday, September 27, 2025 at 03:00 PM (IST) through VC/OAVM. The Notice ....
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Prima Plastics Ltd has informed BSE about a court-convened meeting of its unsecured creditors scheduled for September 27, 2025 at 3:00 PM via video conferencing, as directed by the NCLT Ahmedabad Bench. The meeting is to consider and approve a Scheme of Arrangement under Sections 230-232 of the Companies Act, 2013, involving the demerger of its Rotational Moulding (Roto) business into Prima Innovation Limited, a wholly-owned subsidiary. As per the scheme, Prima Innovation will issue equity shares to the existing shareholders of Prima Plastics in consideration of the demerger, and after the scheme, both Prima Plastics (furniture and allied businesses) and Prima Innovation (Roto business) will function as separate listed entities. BSE had already issued its observation letter on the scheme on March 28, 2025, and a share entitlement ratio report has been prepared by ICON Valuation LLP and a fairness opinion by Kunvarji Finstock.
Shareholders should note that the demerger aims to unlock value by creating two focused listed entities, but the actual swap ratio and its impact on shareholding will become clearer once the NCLT sanction is received and the scheme becomes effective. The stock may see some movement around the September 27 creditor meeting and subsequent NCLT approval milestones.