Triveni Engineering Fixes July 22 as Record Date for Power Transmission Demerger and Share Allotment

In a significant corporate restructuring update, diversified industrial conglomerate Triveni Engineering and Industries Limited has finalized the timelines for the formal spin-off of its power transmission business. Following regulatory approvals, the company's Board of Directors, in consultation with the management of Triveni Power Transmission Limited, has designated Wednesday, July 22, 2026, as the official Record Date.

This date will establish the eligibility of Triveni Engineering shareholders to receive newly minted equity shares in the carved-out entity, Triveni Power Transmission Limited.

Implementing the Composite Scheme

The step follows a previously announced composite scheme of arrangement involving three entities: Triveni Engineering and Industries Limited, Sir Shadi Lal Enterprises Limited, and Triveni Power Transmission Limited. The comprehensive reorganization framework was formally sanctioned by the Hon'ble National Company Law Tribunal, Allahabad Bench, via sequential judicial orders issued on May 7, 2026, and May 18, 2026.

The entire structural rearrangement officially took effect on May 19, 2026. Under the terms of the court-approved blueprint, the complete power transmission undertaking was transferred from the parent company and vested directly into the resulting firm, Triveni Power Transmission Limited, with an operational appointed date retroactive to April 1, 2026.

Share Allotment Ratio and Investor Terms

To compensate equity holders for the division of assets, Triveni Engineering has outlined a clear share exchange mechanism within the statutory regulatory filings.

According to the approved share swap ratio, investors will receive one fully paid-up equity share of Triveni Power Transmission Limited, carrying a face value of INR 2, for every three equity shares of Triveni Engineering and Industries Limited (face value of INR 1) currently held in the parent firm. Eligible shareholders will receive these allotments automatically without needing to submit an application, deed, or physical paperwork. The newly issued shares will carry the identical terms and conditions prevalent within the original parent corporation.

Shares of Triveni Engineering & Industries Limited was last trading in BSE at Rs. 472.35 as compared to the previous close of Rs. 476.65. The total number of shares traded during the day was 53330 in over 2024 trades.

The stock hit an intraday high of Rs. 490.00 and intraday low of 471.25. The net turnover during the day was Rs. 25445430.00.

Source : Equity Bulls

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