Jubilant Industries Limited (JIL) announced that the amalgamation of JIL into Jubilant Agri and Consumer Products Limited (JACPL) has become effective as of October 3, 2024. The move follows the approval of the Composite Scheme of Arrangement by the National Company Law Tribunal (NCLT), Allahabad Bench.
The merger plan includes the consolidation of HSSS Investment Holding, KBHB Investment Holding, and SSBPB Investment Holding into JIL and the subsequent amalgamation of JIL into JACPL. This restructuring is structured to be implemented on a going concern basis.
Key Details of the Amalgamation
- Effective Date: October 3, 2024
- Record Date for Shareholders: October 16, 2024, for determining JIL shareholders entitled to shares from JACPL.
- Authorized Share Capital of JACPL: The share capital has been reclassified and increased to 7,79,77,617 equity shares of Rs. 10/- each, amounting to Rs. 77,97,76,170.
This development marks a significant milestone in the restructuring of JIL, positioning it for future growth under the JACPL umbrella.
