Shri Dinesh Mills: Board approves in-principle demerger of FELT business
Shri Dinesh Mills Ltd.'s Board of Directors, in a meeting on April 29, 2026, was informed of a family settlement agreement (FSA) executed between promoter families (BUP Family and NUP Family), though the company is not a party to it. More significantly, the Board granted in-principle approval for the segregation and demerger of the company's FELT business into a separate, subsequently listed legal entity. This proposed demerger is subject to approvals from the National Company Law Tribunal and other regulatory authorities. The Board also approved interim measures, including the segregation of business verticals and the designation of directors for oversight of the FELT and Residual Businesses to facilitate an orderly transition.
Key Highlights
- Board granted in-principle approval for FELT business demerger.
- FELT business to be segregated and listed as a separate entity.
- Demerger is subject to NCLT and other regulatory approvals.
- Promoter families executed a family settlement agreement (FSA).
- Interim measures for business segregation and director oversight approved.