Viyash Scientific Limited (formerly Sequent Scientific) has completed the certification process confirming the distribution of proceeds generated from the sale of consolidated fractional entitlements. These entitlements arose from the Composite Scheme of Amalgamation, which became effective on December 16, 2025. The net sale proceeds were credited directly to 25 Eligible Shareholders between March 6, 2026, and March 9, 2026, ensuring proportional compensation as mandated by the Scheme.
Confirmation of Fractional Entitlement Distribution
Viyash Scientific Limited (formerly Sequent Scientific Limited) issued this report on March 10, 2026, to certify that the proceeds from the sale of fractional shares—issued following the Composite Scheme of Amalgamation—have been fully distributed to the entitled shareholders. The Scheme was sanctioned by the NCLT on November 18, 2025, and became effective on December 16, 2025.
Treatment of Fractional Shares
As per the Scheme, eligible shareholders of the Amalgamating Company 1 (as of the Record Date, December 8, 2025) received 56 shares of Viyash for every 100 shares held. Total allotment included 18,19,21,827 shares, which incorporated 13 shares issued in lieu of fractional entitlements (“Fractional Shares”).
PNB Investment Services Limited was appointed as the Trustee to hold these Fractional Shares in trust. The shares were sold in the open market at the prevailing market price on February 27, 2026, within the mandated 90-day period.
Summary of Proceeds Distribution
The distribution of the net sale proceeds was finalized across two dates:
- March 6, 2026
- March 9, 2026
The distribution involved 25 Eligible Shareholders who held a total of 13 shares in aggregate. The average net price per share realized was INR 214.12, resulting in a Gross Amount of INR 2,783.56. After deductions/brokerage of INR 13.9178, the final Net Amount credited was INR 2769.64.
Certifications Provided
The Audit Committee, chaired by Mr. Milind Sarwate, and the Independent Directors have reviewed the necessary documentation, including the Trustee’s confirmation and the Practicing Chartered Accountant’s certificate. Based on this due diligence, it is certified that the Company has successfully compensated the “Successful Remittance Shareholders” in exact proportion to their entitlements under the Scheme.
Source: BSE
