Description

DCM Shriram Industries Ltd has revised the record date for its demerger scheme to December 26, 2025. The company will be demerged 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 demerger scheme from the previously announced date to December 26, 2025. The NCLT-approved Composite Scheme of Arrangement involves demerging 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

  • Record date revised to 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 approved by Hon’ble National Company Law Tribunal, New Delhi
  • Two separate demergers: Chemical Undertaking and Rayon Undertaking
  • Share allocation ratio: 1:1 for both resulting companies (1 share of Rs. 2/- face value for every 1 share held in DCM Shriram Industries)
  • Trading in DCM Shriram Industries will be transferred from ‘B’ Group to ‘T’ Group effective December 26, 2025
  • Scrip will be part of Call Auction in Special Pre-open Session (SPOS) on December 26, 2025

Regulatory Changes

Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010, the equity shares of DCM Shriram Industries Ltd (Demerged Company) will be transferred from ‘B’ Group to ‘T’ Group with effect from December 26, 2025. As per SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012, the scrip will trade under Call Auction mechanism in Special Pre-open Session on the ex-entitlement date.

Compliance Requirements

  • Trading members must note the group change from ‘B’ to ‘T’ for DCM Shriram Industries Ltd
  • Trading members should refer to Exchange Notice No. 20120216-29 dated February 16, 2012 for SPOS guidelines
  • The company must complete requisite formalities for listing the equity shares of both resulting companies on BSE Limited
  • Entitlement determination based on shareholding as of record date December 26, 2025

Important Dates

  • Record Date: December 26, 2025
  • Ex-Entitlement Date: December 26, 2025
  • Settlement Number: DR-785/2025-2026
  • Group Transfer Date: December 26, 2025 (B Group to T Group)
  • Call Auction Date: December 26, 2025 (SPOS)
  • Notice Date: December 18, 2025
  • Previous Notice Reference: Notice No. 20251217-7 dated December 17, 2025

Impact Assessment

Market Impact: High - The demerger represents a significant corporate restructuring that will create two independent listed entities from DCM Shriram Industries. The transfer to T Group and mandatory call auction will restrict normal trading and may result in price volatility.

Shareholder Impact: Shareholders as of December 26, 2025 will receive shares in both resulting companies at a 1:1 ratio, effectively tripling their holdings (retaining original shares plus receiving shares in two new companies).

Trading Impact: Trading restrictions through T Group classification and call auction mechanism will limit liquidity and require traders to adjust their strategies. Normal trading will resume once the resulting companies are listed and the demerger is complete.

Operational Impact: The demerger separates the Chemical Undertaking and Rayon Undertaking into focused entities - DCM Shriram Fine Chemicals Ltd and DCM Shriram International Ltd respectively, allowing for specialized operational management.

Impact Justification

Major corporate restructuring involving demerger into two entities with 1:1 share allocation ratio, significant trading restrictions including transfer to T group and call auction