Race Eco Chain board approves demerger of two divisions

Nclt Scheme FiledDemerger Ratio AnnouncedStrategic 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

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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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Reaction day

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Next day

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AI summary

Race Eco Chain board approved a scheme to demerge its Biomass Division into GeoEco Green Energy and Restore Bag Division into Race Gateway. Share ratio: 113 GeoEco shares per 100 Race shares, and 27 Gateway shares per 25 Race shares. Both new entities will seek listing on BSE and NSE. Biomass had Rs 1,870.70 lakh turnover (4.06%), Restore Bag Rs 893.82 lakh (1.94%) out of Rs 46,029.91 lakh total. Scheme filed under Sections 230-232 of Companies Act.

Likely market impact

Shareholders will get shares in both new listed entities. Demerger needs NCLT, shareholder, and SEBI approvals before becoming effective.