Piccadily Agro Industries has fixed September 18, 2026 as the record date for determining shareholders eligible for the recommended final dividend of ₹1 per equity share for the fiscal year ending March 31, 2026 (FY26). This payout represents a 10% return on the face value of the shares and is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

The Board of Directors approved the dividend recommendation during its meeting held on August 18, 2026. The payout will be disbursed within 30 days following the conclusion of the AGM.

Annual General Meeting Details

The company scheduled its 32nd AGM for Friday, September 25, 2026, at 4:30 pm. To determine eligibility for voting and dividend receipt, the Register of Members and share transfer books will remain closed from Saturday, September 19, 2026, through Friday, September 25, 2026, inclusive.

The company has also fixed September 18, 2026 as the cut-off date for remote e-voting. Shareholders holding shares either in physical form or in dematerialized form on this date will be entitled to cast their votes electronically and attend the meeting through video conferencing.

Regulatory Compliance

The disclosure regarding the book closure was made pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The earlier dividend recommendation was disclosed pursuant to Regulation 30 of the same regulations. The Board meeting commenced at 3:00 pm and concluded at 3:40 pm. Relevant documents have been disseminated on the company’s website.

Piccadily Agro Industries Limited has cleared a key regulatory hurdle for its proposed corporate restructuring, receiving no adverse observation letters from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The letters, dated August 14, 2026, enable the company to proceed with filing its draft scheme of arrangement before the National Company Law Tribunal (NCLT).

The scheme involves the demerger of Piccadily Agro Industries Limited into itself and a new entity, Piccadily Food & Essentials Limited. The regulatory clearances are valid for six months from the date of issuance, meaning the company must submit the petition to the NCLT by February 14, 2027.

Regulatory Conditions and Disclosures

Both exchanges have stipulated several conditions that the company must adhere to while seeking approval from shareholders and creditors. SEBI, in its comments forwarded by the exchanges on August 13, 2026, emphasized comprehensive disclosure requirements.

Key regulatory mandates include:

• Disclosure of Legal Proceedings: The company must disclose all ongoing adjudication, recovery proceedings, and enforcement actions against itself, its promoters, and directors before the NCLT and shareholders.
• Financial Freshness: Financial statements included in the scheme and used for valuation reports must not be older than six months.
• Shareholder Information: The explanatory statement sent to shareholders must detail the rationale for the demerger, synergies, cost-benefit analysis, and the impact on shareholders.
• Valuation Details: Disclosure of the registered valuer’s report, merchant banker’s fairness opinion, and the methodology used to arrive at the share-swap ratio is mandatory.
• Unlisted Entities: If any unlisted companies are involved, their details must be included in the format specified for an abridged prospectus under Part E of Schedule VI of the ICDR Regulations, 2018.

Listing Requirements for Resulting Company

The listing of equity shares of Piccadily Food & Essentials Limited is subject to SEBI granting relaxation under Rule 19(2)(b) of the Securities Contract (Regulation) Rules, 1957. Additionally, the listing is at the discretion of the respective exchanges.

To secure listing, the resulting company must:

1. Submit an Information Memorandum containing all details about Piccadily Food & Essentials Limited, aligned with public issue disclosure requirements.
2. Publish newspaper advertisements referencing the Information Memorandum available on the company’s and exchange websites.
3. Ensure continuous disclosure of material information about the resulting company.
4. Incorporate provisions in the scheme stating that allotted shares will remain frozen in the depository system until trading permission is granted.
5. Maintain no change in the shareholding pattern or control between the record date and listing.

Trading in the securities of Piccadily Food & Essentials Limited must commence within sixty days of receiving the order from the High Court or NCLT, simultaneously on all exchanges where the parent entity is listed.

Next Steps

Piccadily Agro Industries Limited must incorporate these observations into its petition filed before the NCLT. The company is also required to obtain consent from creditors for the proposed scheme. The scheme shall become effective only upon receipt of all requisite statutory, regulatory, and other approvals, including those from shareholders and creditors.