Sintex rises 8% on demerger of custom moulding, prefab segments

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26 Aug, 2025 12:21

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Plastic products manufacturer Sintex Industries shares gained nearly 8 percent intraday Friday on board approval for demerger of custom moulding and prefab segments.

"The board of directors, on September 29, unanimously approved the composite scheme of arrangement for demerger of custom moulding business and prefab business to Sintex-BAPL and Sintex Infra Projects, respectively," the Gujarat-based company said in its filing.

Strategic investment in Sintex Holdings BV (Netherlands) will also be transferred to Sintex-BAPL.

Both companies are wholly owned subsidiaries of Sintex Plastics Technology.

The transaction is expected to unlock value of shareholders by separating various businesses in different entities, the company said.

The scheme also involved issuance of one equity share of Sintex Plastics Technology upon demerger against one equity share held by shareholders in Sintex Industries.

After the demerger, equity shares of Sintex Plastics Technology will be listed separately on exchanges. Hence, equity shares currently being held by Sintex Industries in Sintex Plastics Technology will be cancelled pursuant to the scheme. At 11:03 hours IST, the scrip of Sintex Industries was quoting at Rs 77.80, up Rs 4.85, or 6.65 percent on the BSE.Posted by Sunil Shankar Matkar