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Business News/ Markets / Stock Markets/  Borosil demerger record date today. Ratio, cost of acquisition, other details
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Borosil demerger record date today. Ratio, cost of acquisition, other details

Borosil demerger 2023: Board of diretors has fixed 5th December 2023 as record date for spin-off

Borosil demerger ratio: Three shares of the Borosil Scientific Ltd will be awarded to sharesholders of Borosil Ltd for each four shares they held on record date.Premium
Borosil demerger ratio: Three shares of the Borosil Scientific Ltd will be awarded to sharesholders of Borosil Ltd for each four shares they held on record date.

Borosil demerger 2023: Shares of Borosil Ltd will be in focus today as the stock is trading ex-spin off today. As per the information available on BSE website, Borosil shares are trading ex-spin off today for demerger of Borosil Scientific Ltd. After demerger, each shareholder of Borowil Ltd will be awarded four shares of the new company against every four shares of Borosisl Ltd.

Borosil demerger record date

Borosil Ltd informed Indian stock market bourses about demerger record date citing, "Pursuant to Regulations 30 and 42 of the SEBI Listing Regulations and in continuation to our letter dated November 06, 2023 wherein we intimated about the receipt of certified copy of the order from the Hon’ble National Company Law Tribunal, Mumbai Bench, we wish to inform that in accordance with the Scheme, the Record Date for the purpose of determining the shareholders of the Company, who will receive the equity shares of Klass Pack Limited (to be renamed as Borosil Scientific Limited) has been fixed as December 05, 2023."

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Borosil demerger details

Here we list out important Borosil demerger details:

1] Borosil demerger ratio: An eligible Borosil shareholder will be awarded three shares of Borosil Scientific Ltd for every four shares of Borosil Ltd.

2] Borosil demerger record date: Board of directors of Borosil Ltd has fixed 5th December 2023 as record date for finalising eligible shareholders for Borosil demerger benefit.

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"In accordance with the provisions of the Scheme, Klass Pack Limited (‘KPL’) shall allot "3 (Three) fully paid up equity shares of INR 1/- each of KPL (post proposed re-organisation of share capital) for every 4 (Four) fully paid up equity shares of INR 1/- each of Borosil Ltd." to the shareholders of the Company whose names are recorded in the register of members and / or records of the depository, as on the Record Date," Borosil Ltd said in exchange filing.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 05 Dec 2023, 09:43 AM IST
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