Intimation under Regulation 30 and 30A of SEBI (LODR) Regulations, 2015 - Outcome of Board Meeting held on Wednesday, 29th April, 2026
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Shri Dinesh Mills Ltd announced that its Board meeting on April 29, 2026 approved an in-principle demerger of the FELT business into a separate listed entity, with the residual business remaining with the company. The company is not a party to the underlying Family Settlement Agreement (FSA) executed the same day between two promoter families - BUP Family and NUP Family. The FSA outlines the restructuring of promoter shareholding post-demerger: the NUP Family will cease to hold shares in SDM while the BUP Family will cease to hold shares in the new Transferee Company. The combined promoter shareholding of these four parties is approximately 45.73% of the company. The Board also designated directors to oversee the respective business verticals pending the demerger, which is subject to NCLT and other regulatory approvals.
This is a significant corporate restructuring announcement. The demerger of the FELT business could unlock value for shareholders, as the separated entity will be independently listed. The family settlement suggests a planned realignment of promoter holdings that may alter the shareholding structure post-demerger.