Triveni Engineering & Industries Limited has formally certified the distribution of proceeds from fractional shares to eligible shareholders. This action follows a Composite Scheme of Arrangement involving Sir Shadi Lal Enterprises Ltd. The company reported a total net distribution of ₹12,24,787.00 from the sale of 4,308 consolidated fractional shares, completed on September 09, 2026.
Triveni Engineering Reports Fractional Share Proceed Distribution
Triveni Engineering & Industries Limited has announced the certification of the distribution of proceeds from fractional shares to eligible shareholders. This process is a direct outcome of a Composite Scheme of Arrangement amongst Sir Shadi Lal Enterprises Ltd. (Amalgamating Company), Triveni Engineering & Industries Ltd. (Amalgamated Company), and Triveni Power Transmission Ltd. (Resulting Company).
Scheme of Arrangement and Fractional Entitlements
The Composite Scheme of Arrangement received approval from the National Company Law Tribunal (NCLT) on May 07, 2026, and May 18, 2026. The effective date was May 19, 2026, leading to the merger of the Amalgamating Company with the Amalgamated Company. In accordance with the scheme, eligible shareholders of Sir Shadi Lal Enterprises Limited were issued equity shares of Triveni Engineering & Industries Limited on June 9, 2026, based on a share exchange ratio. Subsequently, 6,064 shareholders became entitled to fractional entitlements. The consolidation of these resulted in 4,308 equity shares of Re.1/- each, which were held in a separate trustee demat account.
Distribution of Proceeds
In compliance with SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93, these fractional entitlements were required to be sold. The trustee sold the shares in the open market, and the net sale proceeds, after applicable taxes and expenses, were distributed to the respective eligible equity shareholders. The distribution of these proceeds was completed on September 09, 2026. The total gross proceeds from the sale of 4,308 shares amounted to ₹12,25,385.00, with a TDS of ₹598.00 deducted, resulting in net proceeds of ₹12,24,787.00.
Both the Audit Committee and the Independent Directors of Triveni Engineering & Industries Limited have certified that the company has compensated the eligible equity shareholders by distributing the sale proceeds of fractional entitlements in accordance with the provisions of the Scheme and the SEBI Master Circular.
Source: BSE
