Prima Plastics Limited has issued a revised disclosure correcting the effective date of its scheme of demerger with Prima Innovation Limited and announcing the record date for share allotment. The company informed BSE Limited about these corrections through a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Demerger Date Correction and Record Date Announcement

The company has rectified a clerical error in its previous intimations dated April 1, 2026 and April 4, 2026. The corrected effective date of the scheme of demerger between Prima Plastics Limited (Demerged Company) and Prima Innovation Limited (Resulting Company) is March 31, 2026, instead of the previously stated April 1, 2026.

Share Allotment Details

Under the demerger scheme, Prima Innovation Limited will issue and allot equity shares to Prima Plastics shareholders on a proportionate basis. The allotment ratio is 1 (One) fully paid-up equity share of Prima Innovation Limited having a face value of INR 5.00 each for every 1 (One) fully paid-up equity share of INR 10.00 each held in Prima Plastics Limited.

Shareholders eligible for the allotment are those whose names appear in the register of members and records of the company or depository as on the record date of April 17, 2026. The company has fixed this record date by passing a resolution by circulation.

Regulatory Compliance

Prima Plastics has fulfilled all necessary regulatory requirements for the demerger implementation. Company Secretary and Compliance Officer Nehal Goyal signed the revised disclosure, ensuring proper compliance with listing obligations. The scheme was sanctioned by the Hon'ble National Company Law Tribunal, Ahmedabad Bench, and the certified copy of the order was filed with the appropriate authorities.

Corporate Structure Impact

The completion of this demerger represents a significant milestone in Prima Plastics' corporate restructuring strategy. The scheme creates a clear separation between the parent company and its subsidiary operations, with shareholders receiving proportionate stakes in both entities. This restructuring follows the earlier leadership transition where Mr. Pratik Bhaskar Parekh resigned as Chief Operating Officer of Prima Plastics to assume the role of Executive Chairman and Managing Director at Prima Innovation Limited, effective March 23, 2026.

Prima plastics Limited has received the certified true copy of the National Company Law Tribunal (NCLT) order sanctioning its demerger scheme and has set the effective date for the corporate restructuring.

NCLT Order and Timeline

On March 24, 2026, Prima Plastics Limited received the certified true copy of the NCLT Ahmedabad Bench order that sanctions the scheme of demerger. The company had earlier intimated about receiving the initial NCLT order on March 16, 2026. Following receipt of the certified copy, the company has now fixed March 31, 2026 as the effective date for implementing the demerger scheme.

Demerger Structure

The scheme involves a demerger between Prima Plastics Limited, serving as the demerged company, and Prima Innovation Limited, which will be the resulting company. The restructuring affects both companies' respective shareholders and creditors under the approved framework.

Regulatory Compliance

The demerger scheme has been sanctioned under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The company has made this disclosure in compliance with Regulation 30, 37 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with SEBI Circular no. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023.

Implementation Authorization

Prima Plastics Limited has authorized its designated signatories to undertake all necessary actions required to implement the demerger scheme effectively. The company secretary and compliance officer Nehal Goyal has signed the regulatory filing, ensuring proper documentation and compliance with listing requirements.

The demerger represents a significant corporate restructuring move for Prima Plastics Limited, a manufacturer of moulded furniture and roto moulded products, as it separates its business operations through the newly structured entities.