This is to inform you that pursuant to the allotment of shares of Prima Innovation Limited, it has ceased to be a subsidiary of Prima Plastics Limited.
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Prima Plastics Limited has informed BSE that pursuant to a Scheme of Arrangement between the company and Prima Innovation Limited, Prima Innovation has allotted 1,10,00,470 equity shares (face value INR 5 each) to the shareholders of Prima Plastics as on the record date (April 17, 2026). As part of the same scheme, the entire pre-scheme paid-up share capital of Prima Innovation (INR 1,00,000 comprising 20,000 equity shares) stands cancelled and reduced without consideration, under Sections 230-232 of the Companies Act, 2013. As a result, Prima Innovation Limited has ceased to be a wholly-owned subsidiary of Prima Plastics Limited with effect from April 20, 2026. The filing references Regulation 30, 37 and other applicable SEBI regulations.
Prima Innovation is no longer a subsidiary, implying a significant restructuring or demerger has been executed, which could alter the consolidated financial profile and asset composition of Prima Plastics.