Shipping Corporation Of India Limited has informed the Exchange about Update on Scheme of Arrangement for Demerger of Non-Core Assets ( Demerged Undertaking ) of Shipping Corporation of India Limited ( SCI / Demerged Company ) into Shipping Corporation of India Land and Assets Limited ( Resulting Company )
SCI · price
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On the reaction day the stock moved 0.9 pts less than Nifty Smallcap 250 and 0.2 pts more than its Shipping peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SCI has informed the stock exchanges that it received a certificate from the Office of the Collector of Stamps (Enforcement-1) exempting its demerger scheme from stamp duty under the Maharashtra Stamp Act. The scheme involves transferring SCI's non-core assets into a new company called Shipping Corporation of India Land and Assets Limited (the Resulting Company). The exemption is based on a Government of Maharashtra notification dated October 12, 2023. This is a regulatory compliance update under SEBI Listing Regulations, marking another procedural step in the demerger process that SCI had first disclosed in October 2023.
This is a positive procedural milestone that reduces the cost burden of the demerger and signals steady progress. For shareholders, it means SCI's core shipping business is moving closer to being separated from non-core land and asset holdings, which could unlock value and improve business focus once the demerger is completed.