Resulting Company allots 3,34,96,434 equity shares to shareholders in 1:1 ratio after demerger

Tieramet Limited, the Resulting Company from the demerger of the copper business, has allotted 3,34,96,434 fully paid equity shares of Rs. 2 each to Bhagyanagar India shareholders as on the record date, in the ratio 1:1.

Fri 9 Oct 2026

Shares Allotted

3,34,96,434 fully paid equity shares of Rs. 2 each

Allotment Ratio

1:1 — one share of Rs. 2 for every one share of Rs. 2 held

Record Date

October 08, 2026

What was announced

• The Executive Committee of the Board of Directors of Tieramet Limited, the Resulting Company, at its meeting on October 09, 2026, approved the allotment of 3,34,96,434 fully paid up equity shares of face value of Rs. 2 each.
• These shares were allotted to the equity shareholders of Bhagyanagar India Limited who held shares as on the record date, October 08, 2026.
• The allotment was made in the ratio of 1:1 — one fully paid up equity share of Rs. 2 of Tieramet Limited for every one equity share of Rs. 2 held in Bhagyanagar India Limited, under the Scheme.

Background of the transaction

• The allotment is part of the Composite Scheme of Arrangement, which inter-alia included the demerger of the Copper Business (the Demerged Undertaking) of Bhagyanagar India Limited into Tieramet Limited, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
• The Scheme was approved by the Hon'ble National Company Law Tribunal, Hyderabad Bench, vide its order dated September 07, 2026.

What it means for shareholders

• Eligible shareholders receive one share of the Resulting Company for every one share they held in Bhagyanagar India Limited, so the share count in the Resulting Company mirrors the holding in the demerged company.
• The shares allotted shall rank pari-passu in all respects.
• Tieramet Limited will make the necessary application for listing its equity shares on BSE Limited and National Stock Exchange of India Limited in the due course of time. Until such listing, the shares are allotted but not yet traded on the exchanges.

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