Triveni Engineering and Industries Ltd has fixed Wednesday, July 22, 2026, as the record date to determine the eligibility of equity shareholders for receiving shares of Triveni Power Transmission Limited (TPTL) pursuant to a composite scheme of arrangement. The record date is essential for shareholders to qualify for the share entitlement resulting from the demerger of the company's power transmission business undertaking.

Scheme Background

The scheme, sanctioned by the National Company Law Tribunal, Allahabad Bench, via orders dated May 7, 2026, and May 18, 2026, became effective on May 19, 2026. Consequently, the power transmission business was transferred to and vested in TPTL with effect from the Demerger Appointed Date of April 1, 2026. The composite scheme involves Triveni Engineering and Industries Limited, Sir Shadi Lal Enterprises Limited (SSEL), and Triveni Power Transmission Limited (TPTL), along with their respective shareholders and creditors.

Share Exchange Ratio

Shareholders of Triveni Engineering and Industries Ltd are entitled to receive equity shares of TPTL based on a specific share exchange ratio. For every three equity shares of the demerged company with a face value of INR 1 each held, shareholders are entitled to receive one equity share of the resulting company with a face value of INR 2 each. These shares will be credited as fully paid-up on the same terms and conditions as prevalent in the demerged company. The Board of Directors fixed the record date in consultation with TPTL to facilitate the distribution of shares.

The following table outlines the key details of the demerger and share exchange:

Regulatory Compliance

The intimation was submitted to BSE Limited and National Stock Exchange of India Limited in compliance with Regulations 30 and 42 of the SEBI (LODR) Regulations, 2015. Geeta Bhalla, Group Vice President & Company Secretary, signed the filing on July 11, 2026.

Triveni Engineering & Industries Ltd has received in-principle approval from the National Stock Exchange of India (NSE) and BSE Limited to list 14,65,048 equity shares. These fully paid-up shares, with a face value of ₹1 each, were issued to the eligible equity shareholders of Sir Shadi Lal Enterprises Ltd (SSEL) pursuant to a Scheme of Arrangement. The approval, granted on June 24, 2026, facilitates the listing and trading of these shares on both exchanges following the corporate restructuring.

The Board of Triveni Engineering & Industries Ltd, in consultation with the Board of Directors of SSEL, had previously fixed June 3, 2026, as the record date to determine the eligibility of SSEL's shareholders. The allotment was executed in accordance with the Share Entitlement ratio specified in the Scheme of Arrangement among Triveni Engineering & Industries Ltd, SSEL, and Triveni Power Transmission Ltd (TPTL) and their respective shareholders and creditors.

Stock Exchange Approvals

The exchanges issued observation letters regarding the listing application. The NSE referenced letter No. NSE/LIST/46129 dated August 11, 2025, while BSE referenced letter No. DCS/AMAL/NB/R37/3734/2025-26 dated August 07, 2025. Following the submission of necessary documents, both exchanges granted their consent.

The NSE confirmed that the shares bearing distinctive numbers from 257945111 to 259410158 would be listed and admitted to dealings upon receipt of confirmation from depositories NSDL and CDSL regarding the credit of beneficiaries' accounts or the dispatch of physical share certificates.

Conditions for Listing

BSE outlined specific conditions that must be met before trading approval is granted. The company is required to file the listing approval obtained from the NSE, confirmation letters from CDSL and NSDL regarding the crediting of shares, and details of payment of any outstanding dues. Additionally, the company must provide details of payment of Settlement of Proceedings (SOP) fines, if any.

The approvals from the stock exchanges are specific to the listing of these securities and do not constitute approval under any other Act, regulation, or rule. Triveni Engineering & Industries Ltd must obtain separate approvals from other departments of the exchanges if required.

Key Details of the Allotment