Update on Amalgamation/Merger/Demerger of the Company - fixation of record date i.e. 27th June 2025
Awaiting price reaction for this filing.
The NCLT Allahabad and Kolkata Benches have sanctioned the Scheme of Arrangement and the order was filed with the Registrars of Companies on 17th June 2025, making the scheme effective from that date. Under the scheme, the Dairy Business of Umang Dairies will demerge into Panchmahal Properties Ltd (a wholly-owned subsidiary of BACL), after which the residual Umang Dairies will amalgamate into Bengal & Assam Company Ltd (BACL), which already holds 55.70% of Umang Dairies. Shareholders will receive 1 equity share of BACL (face value Rs 10) for every 9 equity shares held in Umang Dairies (face value Rs 5). The Board has fixed Friday, 27th June 2025 as the Record Date to identify eligible shareholders for the share allotment. The scheme was approved by 99.99% of equity shareholders and 100% of unsecured creditors of Umang Dairies. The appointed date is 1st April 2023, with an objective to unlock value in the dairy business, attract strategic partners, and simplify the group holding structure.
Existing Umang Dairies shareholders will receive BACL shares in lieu of their UDL holdings based on the swap ratio, and Umang Dairies will cease to exist as a listed entity post-amalgamation. The record date of 27th June 2025 is critical — investors must hold UDL shares on that date to be eligible for the share entitlement.