Styrenix Performance Materials Limited has informed the Exchange that pursuant to merger of step-down subsidiaries, the loan obligation of Styrenix Polymers (Thailand) Co., Ltd, a wholly owned step-down subsidiary of the Company ("Dissolving entity") has been transferred to Styrenix Performance Materials (Thailand) Limited, a wholly owned step-down subsidiary of the Company ( Surviving entity ).
STYRENIX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Styrenix Performance Materials has completed a reverse merger of two wholly owned step-down subsidiaries in Thailand, effective June 26, 2025. Styrenix Polymers (Thailand) Co. Ltd (the dissolving entity) has merged into Styrenix Performance Materials (Thailand) Limited (the surviving entity). As a result, a term loan of THB 772,320,982 (approximately ₹185 crore) from HSBC Bangkok, originally taken to finance the acquisition of shares in the surviving entity (formerly INEOS Styrolution Thailand), has been transferred to the surviving entity. The loan is backed by a corporate guarantee from Styrenix, immovable assets and machineries of the borrower in Rayong, existing borrower accounts with HSBC, and a pledge on 100% shares held by Styrenix Performance Materials FZE in the borrower.
This is purely an internal restructuring with no change in ultimate ownership or new financial exposure for shareholders. The loan was already indirectly on the company's books via its corporate guarantee, and the merger only consolidates it under the surviving Thai subsidiary.