Prima Plastics Limited has announced April 17, 2026 as the record date for its scheme of arrangement with Prima Innovation Limited, marking a significant corporate restructuring milestone. The announcement was made through a regulatory filing to BSE Limited on April 4, 2026, pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Scheme Details and Share Allotment Ratio

The scheme of arrangement between Prima Plastics Limited and Prima Innovation Limited became effective on April 1, 2026, following the receipt of a certified copy of the National Company Law Tribunal (NCLT) Ahmedabad Bench order sanctioning the scheme. Under this arrangement, Prima Innovation Limited will serve as the resulting company.

Shareholder Eligibility Criteria

Shareholders whose names appear in the register of members and records of Prima Plastics Limited or the depository as on the record date will be eligible for the share allotment. The company has determined this eligibility through a resolution passed by circulation, ensuring compliance with the scheme's requirements.

Regulatory Compliance and Timeline

The company had previously informed the stock exchange on March 24, 2026 about receiving the certified copy of the NCLT order sanctioning the scheme. The April 4, 2026 filing represents the next step in the regulatory process, formally establishing the record date for shareholder determination.

The scheme involves the proportionate allotment of equity shares by Prima Innovation Limited to Prima Plastics Limited shareholders, facilitating the corporate restructuring process between the two entities and their respective shareholders and creditors.

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.