Description

DCM Shriram Industries Ltd. has revised the record date to December 26, 2025 for its demerger scheme into 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 (demerger) from the previously announced date to December 26, 2025. The scheme, approved by the National Company Law Tribunal (NCLT), New Delhi, involves demerging the company’s 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 on a 1:1 basis.

Key Points

  • Revised record date: December 26, 2025 (changed from previous date announced on December 17, 2025)
  • Ex-entitlement date: December 26, 2025 (Settlement No. DR-785/2025-2026)
  • Demerger of Chemical Undertaking into DCM Shriram Fine Chemicals Ltd. (Resulting Company 1)
  • Demerger of Rayon Undertaking into DCM Shriram International Ltd. (Resulting Company 2)
  • Share swap 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)
  • Scrip will be transferred from ‘B’ Group to ‘T’ Group effective December 26, 2025
  • Special Pre-open Session (SPOS) call auction will apply on December 26, 2025

Regulatory Changes

Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010, trading in DCM Shriram Industries Ltd. equity shares will be transferred from ‘B’ Group to ‘T’ Group (Trade-to-Trade segment) with effect from December 26, 2025.

Pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012, the scrip will be part of Call Auction in Pre-open Session (Special Pre-open Session - SPOS) on December 26, 2025.

Compliance Requirements

  • Trading members must note the revised record date and ex-entitlement date
  • Ensure clients are informed about the demerger scheme and share entitlements
  • Prepare systems for trading restrictions (T Group and SPOS) on December 26, 2025
  • Monitor for listing of two new entities: DCM Shriram Fine Chemicals Ltd. and DCM Shriram International Ltd.
  • Refer to Exchange notice no. 20120216-29 dated February 16, 2012 for SPOS guidelines

Important Dates

  • December 18, 2025: Notice date for revised record 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 of scrip from ‘B’ Group to ‘T’ Group
  • December 26, 2025: Special Pre-open Session (SPOS) applicable

Impact Assessment

Shareholder Impact: All existing shareholders of DCM Shriram Industries Ltd. holding shares as of the record date (December 26, 2025) will receive equity shares in both resulting companies on a 1:1 basis. This represents a significant corporate restructuring that will triple shareholders’ holdings across three separate entities.

Trading Impact: The scrip will face trading restrictions as it moves to ‘T’ Group (Trade-to-Trade segment) and will be subject to call auction through SPOS on the ex-entitlement date. This may result in reduced liquidity and increased volatility.

Market Impact: Two new companies will be listed on BSE Limited subject to compliance with requisite formalities, expanding the listed universe in the chemicals and textiles sectors. The parent company will continue to exist after the demerger of both undertakings.

Operational Impact: The demerger separates two distinct business verticals (Chemical and Rayon) into focused entities, potentially improving operational efficiency and creating more transparent investment opportunities for sector-specific investors.

Impact Justification

Major corporate restructuring affecting all shareholders with revised record date, trading restrictions, and creation of two new listed entities