Subsidiary12 Oct 2026, 09:10 pm
KM Spirits Ceases to be Subsidiary of K M Sugar Mills
AI Summary
K M Sugar Mills Limited announced that KM Spirits and Allied Industries Limited has ceased to be its subsidiary effective October 12, 2026. This change follows the Scheme of Arrangement (Demerger) where the distillery division of K M Sugar Mills was demerged into KM Spirits and Allied Industries Limited. As part of the scheme, KM Spirits and Allied Industries Limited allotted 1,84,00,034 equity shares to the eligible shareholders of K M Sugar Mills Limited. Consequently, K M Sugar Mills Limited no longer exercises control over KM Spirits and Allied Industries Limited, and its shareholding in the subsidiary has become nil.
Key Highlights
- KM Spirits and Allied Industries Limited is no longer a subsidiary of K M Sugar Mills Limited.
- Cessation is effective from October 12, 2026.
- The change is due to a Scheme of Arrangement (Demerger).
- K M Sugar Mills Limited's control and shareholding in the subsidiary have ceased.
- Equity shares were allotted to eligible shareholders of K M Sugar Mills.
Price Impact
More from KMSUGAR