Dalmia Bharat Sugar & Industries , a prominent player in the Indian sugar industry, has successfully completed its strategic international expansion with regulatory approval for its acquisition of Eagle Agrotech Holdings Limited (EAHL). The company announced that ADGM, Abu Dhabi has approved the allotment of 51% ordinary shares by EAHL, making it an official subsidiary effective December 18, 2025.

Regulatory Approval and Subsidiary Status

The company disclosed to stock exchanges that the Abu Dhabi Global Market (ADGM) approved the share allotment on January 07, 2026. This regulatory milestone confirms EAHL's status as a subsidiary of Dalmia Bharat Sugar with effect from December 18, 2025.

Partnership and Investment Structure

Dalmia Bharat Sugar and Industries Limited entered into a Share Subscription cum Shareholders Agreement with Eagle Agrotech Holdings Limited and H.E. Mr. Mohamed Ali Rashed Alabbar. The agreement outlines their collaboration for establishing sugar operations in Tanzania through this UAE-based holding company.

Tanzania Operations and Strategic Scope

The partnership aims to develop sugar production infrastructure in Tanzania through Eagle Agrotech Tanzania Limited (EATL), a subsidiary of EAHL. EATL is establishing sugarcane plantations and a sugar factory in the country, marking Dalmia Bharat Sugar's first foray into the East African sugar market.

Strategic Benefits

This international expansion represents a significant milestone for Dalmia Bharat Sugar, enabling the company to diversify its geographical presence, access new markets, and leverage its sugar production expertise globally. The move positions the company to benefit from Tanzania's agricultural resources and strategic location in East Africa.

Compliance and Disclosure

The company confirmed that the acquisition does not constitute a related party transaction and does not require additional governmental or regulatory approvals. The disclosure was made pursuant to Regulation 30(7) of SEBI (LODR) Regulations, 2015, ensuring full transparency with stakeholders and regulatory authorities.

The National Company Law Tribunal (NCLT) Chennai has sanctioned the scheme of arrangement for the demerger of Dalmia Bharat Sugar & Industries Limited's (DBSIL) DMC Unit and GT Unit into Dalmia Bharat Refractories Limited (DBRL). This strategic move aims to streamline operations and enhance value for shareholders.

Key Details of the Demerger

• Approval Date: The NCLT order was pronounced on September 12, 2025.
• Appointed Date: July 1, 2023
• Share Exchange Ratio: Shareholders will receive 1 equity share of Dalmia Bharat Refractories for every 48.18 equity shares held in Dalmia Bharat Sugar.

Strategic Rationale

The demerger is expected to bring several benefits:

1. Segregation of non-core businesses from the sugar business
2. Focused management for DMC Unit, GT Unit, and sugar business
3. Increased flexibility for value extraction and fund-raising

Units Being Demerged

1. DMC Unit: Dalmia Magnesite Corporation
2. GT Unit: Govan Travels

Regulatory Compliance

The scheme has received observations and no-objection letters from all statutory authorities, including:

• Bombay Stock Exchange (BSE)
• National Stock Exchange (NSE)
• Calcutta Stock Exchange (CSE)
• Metropolitan Stock Exchange of India Limited (MSE)

Next Steps

The scheme will become effective once the certified copy of the NCLT order is filed with the Registrar of Companies, Chennai.

Management Commentary

Rachna Goria, Company Secretary of Dalmia Bharat Sugar & Industries Limited, stated, "This demerger will enable efficient and focused management individually on DMC Unit, GT Unit, and sugar business, leading to better value creation for our shareholders."

The demerger of DMC and GT Units from Dalmia Bharat Sugar into Dalmia Bharat Refractories marks a significant step in the company's strategic realignment. It is expected to unlock value for shareholders and allow for more focused growth in each business segment.