Description

DCM Shriram Industries Ltd has revised the record date to December 26, 2025 for its demerger scheme involving DCM Shriram Fine Chemicals Ltd and DCM Shriram International Ltd.

Summary

DCM Shriram Industries Ltd (Scrip Code: 523369) has revised the record date for its composite scheme of arrangement approved by NCLT New Delhi. The new record date is December 26, 2025 (previously December 25, 2025). The scheme involves demerger of two undertakings: the Chemical Undertaking into DCM Shriram Fine Chemicals Ltd and the Rayon Undertaking into DCM Shriram International Ltd. Shareholders will receive equity shares in both resulting companies in a 1:1 ratio.

Key Points

  • Revised record date: December 26, 2025
  • Ex-entitlement date: December 26, 2025 (Settlement No. DR-785/2025-2026)
  • Previous record date was December 25, 2025 (per notice dated December 17, 2025)
  • Demerger approved by Hon’ble National Company Law Tribunal, New Delhi
  • Chemical Undertaking demerged into DCM Shriram Fine Chemicals Ltd (Resultant Company No. 1)
  • Rayon Undertaking demerged into DCM Shriram International Ltd (Resultant Company No. 2)
  • Share exchange ratio: 1:1 for both resulting companies (1 equity share of Rs. 2 face value in each resulting company for every 1 equity share of Rs. 2 face value in DCM Shriram Industries Ltd)
  • DCM Shriram Industries Ltd shares will be transferred from ‘B’ Group to ‘T’ Group effective December 26, 2025
  • Special Pre-open Session (SPOS) call auction applicable on December 26, 2025

Regulatory Changes

  • Trading in DCM Shriram Industries Ltd equity shares will move from ‘B’ Group to ‘T’ Group (Trade-for-Trade segment) effective December 26, 2025, as per SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010
  • The scrip will be subject to Call Auction in Pre-open Session (Special Pre-open Session - SPOS) on December 26, 2025, as per SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012

Compliance Requirements

  • Trading members must note the revised record date and ex-entitlement date
  • Trading members should refer to Exchange notice no. 20120216-29 dated February 16, 2012 for information on Special Pre-open Session procedures
  • Both resulting companies (DCM Shriram Fine Chemicals Ltd and DCM Shriram International Ltd) will list on BSE Limited subject to compliance with requisite formalities

Important Dates

  • December 18, 2025: Circular issue date
  • December 26, 2025: Revised record date for determining shareholder entitlements
  • December 26, 2025: Ex-entitlement date (Settlement No. DR-785/2025-2026)
  • December 26, 2025: Transfer to T Group effective date
  • December 26, 2025: Special Pre-open Session (SPOS) applicable

Impact Assessment

Shareholder Impact: All shareholders of DCM Shriram Industries Ltd holding shares as of the record date will receive equity shares in two new companies at a 1:1 ratio for each undertaking. This means for every share held in the demerged company, shareholders will receive one share each in DCM Shriram Fine Chemicals Ltd and DCM Shriram International Ltd.

Trading Impact: The stock will move to T Group (Trade-for-Trade segment) on the ex-date, which means no intraday trading, squared-off positions, or margin trading facility. Only delivery-based trading will be permitted. The Special Pre-open Session will apply, which may impact price discovery.

Market Impact: This is a significant corporate restructuring splitting DCM Shriram Industries into two separate listed entities focusing on chemical and rayon businesses respectively. The demerger allows each business to operate independently with separate management focus and potentially unlock shareholder value.

Impact Justification

Major corporate restructuring involving demerger of two business undertakings with 1:1 share allotment ratio, trading restrictions, and transfer to T group affecting shareholder entitlements