Umang Dairies Limited (UDL) has demerged its Dairy Business Undertaking into Panchmahal Properties Limited (PPL), which will be renamed Umang Dairies Limited upon effectiveness.

Subsequently, UDL (post-demerger) will be amalgamated with Bengal & Assam Company Limited (BACL). The swap ratio for the demerger is 1 equity share of BACL (face value INR 10) for every 9 equity shares of UDL (face value INR 5). This restructuring aims to streamline the group’s corporate structure, enable focused growth in the dairy segment, and improve operational efficiency.

Shareholders of the demerged entity will receive shares in BACL, with fractional entitlements consolidated and sold by a trustee, and proceeds distributed accordingly.