Meghmani Finechem Limited (MFL) (NSE – MFL|“MFL” – BSE – 543332|INE071N01016) will get listed on the stock exchanges on 18th August 2021. The shareholders of Meghmani Organics Limited (MOL) were allotted 94 (Ninety four) fully paid equity share of face value of ₹ 10/- of MFL for every 1,000 (One thousand) fully paid equity share of MOL of face value ₹ 1/-. Tomorrow 4,15,50,158 equity shares of ₹ 10/- of MFL will get listed on the stock exchanges and trading will commence.
Commenting on occasion, Mr. Maulik Patel, Chairman & Managing Director, said, “I would like to welcome all shareholders of Meghmani Finechem Ltd to be part of our stakeholders and to join hands in contributing to our growth journey.
The listing of Meghmani Finechem Limited as a separate and independent entity on the exchanges is aligned with the long term vision of the management. The restructuring would entail several benefits of a separate and independent listed entity leading to unlocking of shareholder value for both the companies. It enables investors to hold investment in the business with different characteristics which best suits their investment strategies and risk profiles.
It allows a focused strategy and specialization of sustained growth for both the businesses, simplifying the holding structure. MFL is focused on strengthening its fully integrated complex for manufacturing Chlor-Alkali and its derivative business, further to get in specialty products, MFL is getting in to Epichlorohydrin and CPVC Resin, which is expected to get commissioned in FY23”.