HSCL board approves scheme of arrangement with Dalmia Bharat Refractories

The board of Himadri Speciality Chemical at its meeting held today i.e., on 21 September 2026, inter-alia, has considered and approved the scheme of arrangement between Dalmia Bharat Refractories (DBRL or demerged company) and Himadri Speciality Chemical (HSCL or resulting company) and their respective shareholders and creditors.

The scheme, inter-alia, provides for demerger by way of transfer and vesting of the tyre business of DBRL (demerged undertaking) from DBRL to HSCL as a going concern, on an as is where is basis, and the consequent issuance of resulting company new shares (as defined in the Scheme) by HSCL to the eligible shareholders of DBRL in accordance with the share entitlement ratio in the manner set forth in the scheme.