Board approves demerger of Biomass and Restore Bag divisions into two listed entities

Demerger Ratio AnnouncedCore Business DivestedStrategic Transactions View source PDF Explain this filing

RACE · price

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Price reactionminutes from the announcement price · days from the prior close

-3.3%Reaction day

₹147.26

prior close

₹151.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.6%-2.7% vs market

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-3.3-0.6-2.7

Next day

-4.5-1.5-3.0

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-6.3+1.1-7.4

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UpDownMarket · Nifty Microcap 250Pending

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AI summary

Board approved a scheme to demerge its Biomass Division into GeoEco Green Energy and the Restore Bag Division into Race Gateway. Both will seek BSE and NSE listing. Share ratio: 113 GeoEco shares per 100 Race shares, and 27 Gateway shares per 25 Race shares. Independent Director Anil Kumar Behl resigned and was redesignated as Non-Executive Non-Independent Director. Audit Committee reconstituted with Sanjay Kukreja as new Chairperson.

Likely market impact

Shareholders will receive shares in two new listed entities. Scheme unlocks focused business value but needs NCLT and other approvals before becoming effective.