Introduction:
Prominent ethanol company has announced the approval of a Composite Scheme of Arrangement, involving its merger with Triveni Engineering & Industries and the demerger of its PTB Undertaking to Triveni Power Transmission, pending regulatory approvals.
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Share price movement of Sir Shadi Lal Enterprises:
On December 11, 2024, Sir Shadi Lal Enterprises Ltd opened at ₹330.00, down 4.55% from its previous close of ₹345.65. The stock reached a high of ₹330.00 and a low of ₹311.10. By 11:29 AM, it traded at ₹311.10, a 10% decrease, with a market cap of ₹163.33 crore.
Sir Shadi Lal Enterprises approves amalgamation and demerger:
Sir Shadi Lal Enterprises Limited (SSEL) announced the approval of a Composite Scheme of Arrangement by its Board of Directors. This approval is for the amalgamation of SSEL with Triveni Engineering & Industries Limited and the demerger of its PTB Undertaking to Triveni Power Transmission Limited.
The scheme outlines the issuance of equity shares by Triveni Engineering & Industries Limited and Triveni Power Transmission Limited to SSEL’s shareholders. The transaction also includes the listing of these companies’ equity shares on the BSE and NSE upon the scheme’s effectiveness.
The scheme is subject to approval from shareholders, creditors, the National Company Law Tribunal (NCLT), and other relevant authorities. A joint valuation report and fairness opinion were obtained to determine the share exchange ratio for the amalgamation and demerger.
Stock performance of Sir Shadi Lal Enterprises for Period of 1 week, 6 months and 1 year:
Over the past week, Sir Shadi Lal Enterprises Ltd has seen a decline of 2.74%. However, it has experienced strong growth with a 21.4% increase over the last 6 months and a significant 156% rise over the past year.
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Shareholding pattern of Sir Shadi Lal Enterprises:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 61.77% | 61.77% | 36.34% |
| DII | 0% | 0% | 0% |
| Public | 38.23% | 38.24% | 63.68% |
About Sir Shadi Lal Enterprises:
Sir Shadi Lal Enterprises Ltd (BSE: 532879) is a prominent company established in 1933, specializing in sugar manufacturing and distillery. Its product portfolio includes sugar, spirit, alcohol, and ethanol production.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
