Receipt of Observation Letter with no adverse observations from BSE Ltd. on the composite scheme of arrangement
WIMPLAST · price
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Awaiting price reaction for this filing.
Wim Plast Limited (WPL) has received a 'no adverse observations' letter from BSE (dated July 4, 2025) and a 'no objection' from NSE on its composite scheme of arrangement with Cello Consumer Products Pvt. Ltd. (CCPPL, a wholly owned subsidiary of Cello World Limited) and Cello World Limited (CWL). The scheme, first approved by WPL's board on November 12, 2024, involves demerging WPL's manufacturing business undertaking into CCPPL and amalgamating WPL with CWL under Sections 230-232 of the Companies Act, 2013. WPL can now proceed to file the scheme with the National Company Law Tribunal (NCLT) for approval; the observation letter is valid for 6 months.
This is a key regulatory clearance bringing the WPL–Cello World merger closer to completion, but it is not yet final — NCLT approval, shareholder and creditor votes are still required. WPL shareholders can expect to receive shares in the larger Cello World entity upon merger, effectively exiting WPL as a standalone listed stock.