Receipt of Observation Letter with "No Objection" from National Stock Exchange of India Limited in relation to the proposed composite Scheme of Arrangement
TRIVENI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Triveni Engineering & Industries has received a 'No Objection' observation letter from NSE on August 6, 2025, for its proposed Composite Scheme of Arrangement originally approved by the Board on December 10, 2024. The scheme involves two parts: amalgamation of Sir Shadi Lal Enterprises Limited into Triveni Engineering, and demerger of the PTB (Power Transmission Business) undertaking from Triveni Engineering into a new resulting company, Triveni Power Transmission Limited, which will seek separate listing. The NSE letter is valid for six months, during which the company must file the scheme with NCLT for approval. Several compliance conditions have been laid down, including disclosure of financials, valuation basis, pre and post-scheme shareholding patterns, and additional information to shareholders before they vote on the scheme.
This is a procedural milestone that clears a key regulatory hurdle and brings the company closer to executing its restructuring plan, but the scheme still requires NCLT, shareholder, and creditor approvals before it can take effect.