Triveni Engineering & Industries Ltd. has announced the completion of the distribution of proceeds from the sale of fractional shares. This action follows the Composite Scheme of Arrangement involving Sir Shadi Lal Enterprises Ltd. and Triveni Power Transmission Ltd. The distribution, finalized on September 09, 2026, involved 4,308 shares, resulting in ₹12,24,787.00 in net proceeds being disbursed to eligible shareholders.
Distribution of Fractional Share Proceeds Completed
Triveni Engineering & Industries Ltd. has formally reported the completion of the distribution of proceeds from the sale of consolidated fractional entitlements. This significant step is part of the Composite Scheme of Arrangement, which involved the amalgamation of Sir Shadi Lal Enterprises Ltd. and Triveni Power Transmission Ltd. The distribution process was executed in compliance with the SEBI Master Circular and the approved Scheme.
Key Details of Distribution
The distribution of sale proceeds, after accounting for expenses and TDS, was concluded on September 09, 2026. A total of 4,308 equity shares, arising from the consolidation of fractional entitlements, were sold. The gross proceeds from this sale amounted to ₹12,25,385.00. After deducting ₹598.00 in TDS, the net proceeds distributed to eligible shareholders totaled ₹12,24,787.00.
Scheme of Arrangement Background
The Composite Scheme of Arrangement was approved by the National Company Law Tribunal (NCLT), Allahabad Bench, via orders dated May 07, 2026 and May 18, 2026. The effective date was May 19, 2026, leading to the merger of Sir Shadi Lal Enterprises Ltd. with Triveni Engineering & Industries Ltd. Following this, eligible shareholders of Sir Shadi Lal Enterprises Ltd. were issued equity shares of Triveni Engineering & Industries Ltd. on June 09, 2026, at a share exchange ratio of 100:137.
A total of 6,064 shareholders were entitled to fractional entitlements. These were consolidated and allotted as 4,308 equity shares of Re.1/- each into a separate demat account held by Mitcon Credentia Trusteeship Services Limited, acting as a trustee for the benefit of the entitled shareholders. This report from the Audit Committee and Independent Directors certifies that the distribution of these proceeds has been conducted as per the Scheme and relevant SEBI circulars.
Source: BSE
