tata coffee share has specified which of its shareholders will receive equity shares of TCPL following the demerger and amalgamation in compliance with Clauses 13.1 and 20.1 in the exchange filing.
merger of Tata Consumer and tata coffee share
Products: TCPL Beverages and Foods and Tata Consumer Products Limited (TCPL) are amalgamating. The merger will take effect on January 1st. Tata Coffee Limited will not exist following this merger. tata coffee share has specified which of its shareholders will receive equity shares of TCPL following the demerger and amalgamation in compliance with Clauses 13.1 and 20.1 in the exchange filing. The record date for this has been set by the company at January 15, 2024.
A vote of the shareholders of tata coffee share, TCPL Beverages and Foods, and Tata Consumer Products Limited was conducted in 2022. This resulted in the approval of each of the three companies’ restructuring plans.
The board of directors of TCL, the board implementation committee of TCPL, and the board of directors of TBFL have acknowledged that filing certified copies of the order with the Registrar is one of the conditions under clause 29 of the plan, the company stated in its BSE filing. Businesses with properly completed Form INC-28. As a result, with regard to the Scheme, January 1st, 2023, will be the appointment and effective dates of the Scheme.
Stocks immediately increased
The company’s shares moved in response to the merger news. At 10.18 am on Friday, shares of Tata Consumer Products Limited were up 2.93 percent, or Rs 30.50, at Rs 1,071.50. In contrast, shares of Tata Coffee were up 3.34 percent, or Rs 10.30, at Rs 318.70. At the same time, tata coffee share hit Rs 309.05. This was following information that was received by the exchange on Thursday.
Nonetheless, the shares closed at Rs 308.4 at the closing, up 1.41 percent. Tata Consumer Products’ stock gained 2.12 percent and closed at its highest point of the day, Rs 1,048.55.