Further to our intimation dated 07th June 2025 and 09th June 2025 and pursuant to Regulation 30 read with Clause 13, Para A, Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR ), we are submitting herewith as Annexure- A, the proceedings of the meeting of the equity shareholders of SKF India Limited ( Company ) held pursuant to the directions of the Hon ble National NCLT, on Monday, 14th July 2025 at 11:30 a.m. (IST), through Video Conferencing ( VC ) / Other Audio Visual Means ( OAVM ), to transact the business contained in the Notice dated 06th June 2025, for the purpose of considering and approving, the proposed Scheme of Arrangement between SKF India Limited ( Demerged Company ) and SKF India (Industrial) Limited ( Resulting Company ) and their respective shareholders and creditors ( Meeting ). The resolution as set out in the Notice for the aforesaid matter has been approved by the equity shareholders of the Company with requisite majority by passing special resolution as mentioned in proceedings.
SKFINDIA · price
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SKF India held a court-ordered shareholders' meeting on 14th July 2025 via video conferencing, as directed by the NCLT Mumbai Bench, to vote on a Scheme of Arrangement under Sections 230-232 of the Companies Act, 2013. The scheme proposes to demerge the industrial business of SKF India into a new resulting company called SKF India (Industrial) Limited. The special resolution was passed by equity shareholders with the requisite majority. Out of 69,710 total shareholders on the cut-off date (7th July 2025), 59 shareholders representing about 2.61 crore shares participated in voting (predominantly the promoter group with 2.6 crore shares). The meeting was chaired by a retired NCLT judicial member, and the scrutinizer confirmed the resolution was carried. The scheme will now move to NCLT for final sanction.
This is a key milestone in the proposed demerger. Once NCLT gives final approval, SKF India's industrial business will be transferred to SKF India (Industrial) Limited, which may result in existing shareholders receiving shares in the new entity based on the swap ratio. Investors should watch for the next steps including NCLT sanction order, swap ratio announcement, and any potential impact on stock price or shareholding structure.