Piccadily Agro Industries is separating its food and essentials business into a new entity, Piccadily Food & Essentials Limited (PFEL). This demerger aims to unlock value and create focused operations for each business.

The stock exchanges have issued no-objection letters for the proposed scheme.

While details on PFEL's separate listing are subject to further approvals and exchange criteria, this move is intended to benefit shareholders by creating distinct investment opportunities.