Amalgamation/Merger

Styrenix Performance Materials Limited plans to merge its wholly-owned subsidiaries, Styrenix Polymers (Thailand) Co., Ltd. and Styrenix Performance Materials (Thailand) Limited, to streamline operations and consolidate group structure.

Styrenix Polymers, newly incorporated and previously aimed at acquisition, currently has no turnover, while Styrenix Performance Materials reported a turnover of INR 976 Crores for 2023. This merger is expected to enhance operational efficiencies by unifying management and support activities under a single entity.

No cash consideration or share exchange will occur, preserving the current shareholding pattern.