Umang Dairies Limited has informed the Exchange that Record date for the purpose of Merger/HiveOff is 27-Jun-2025.
Awaiting price reaction for this filing.
Umang Dairies Limited has informed exchanges that its composite scheme of arrangement has become effective from 17 June 2025, following NCLT Allahabad and Kolkata orders. Under the scheme, UDL's dairy business will demerge into Panchmahal Properties Limited (a wholly-owned subsidiary of Bengal & Assam Company Limited), which will be renamed 'Umang Dairies Limited'. The residual UDL will then merge into BACL and stand dissolved. Shareholders of UDL will receive 1 equity share of BACL (face value ₹10) for every 9 shares held in UDL (face value ₹5). The record date for determining eligible shareholders is fixed as 27 June 2025. Shareholders and unsecured creditors had approved the scheme with near-unanimous votes earlier.
Existing UDL shareholders will effectively become shareholders of BACL via the swap ratio and cease to hold UDL shares, as UDL will be dissolved. The listed entity and stock price continuity will now follow BACL, and shareholders should expect share allotment on or after the record date as per the scheme.