SIDCL board approves demerger of Krishnagar Sentrum into wholly owned subsidiary

SIDCL's board has approved a scheme to demerge its Krishnagar Sentrum project, a mixed-use real estate development in Krishnanagar, West Bengal, into wholly owned subsidiary Shristi Realty Holdings Ltd. The demerged unit posted turnover of about INR 1,281.72 lakhs in FY26, about 18.37 percent of SIDCL's standalone turnover. No cash will be paid. Eligible shareholders of SIDCL will get 2 equity shares of the resulting company (face value INR 10) for every 9 shares held in SIDCL. The resulting entity will seek listing on BSE and Calcutta Stock Exchange. The scheme needs NCLT, shareholder and creditor approvals, and a no-objection from the stock exchanges. Appointed date is 1 October 2026.