STOCKWATCH

SKF India Ltd. Approves Scheme of Arrangement with SKF India (Industrial) Ltd.

SKF India Ltd. has approved a Scheme of Arrangement between itself and SKF India (Industrial) Ltd. The scheme involves the demerger of the company's Industrial Business into SKF India (Industrial) Ltd. The demerged division had a turnover of approximately Rs. 28,978.7 Million, representing 63% of the total turnover of the company for the financial year ended 31st March 2024. The rationale for the demerger includes strategic flexibility, independent management, and potential for different investors and stakeholders for each business. The shareholding pattern of SKF Industrial will mirror that of SKF India post-scheme.

• SKF India Ltd. approves Scheme of Arrangement with SKF India (Industrial) Ltd.
• The scheme involves the demerger of the company's Industrial Business into SKF India (Industrial) Ltd.
• The demerged division had a turnover of approximately Rs. 28,978.7 Million, representing 63% of the total turnover of the company.
• The rationale for the demerger includes strategic flexibility, independent management, and potential for different investors and stakeholders for each business.
• The shareholding pattern of SKF Industrial will mirror that of SKF India post-scheme.