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Informist, Monday, Sept. 7, 2026

 

--NCLT OKs scheme of arrangement between Bhagyanagar India, wholly owned arms 

--CONTEXT: Scheme involves Bhagyanagar Copper merger with Bhagyanagar India 

--Consol copper business of Bhagyanagar India to be demerged to Tieramet

 

By Surya Tripathi 

 

NEW DELHI – The Hyderabad bench of the National Company Law Tribunal Monday approved a scheme of arrangement between Bhagyanagar India Ltd. and its arms Bhagyanagar Copper Pvt. Ltd. and Tieramet Ltd. According to the scheme of arrangement, first Bhagyanagar Copper will be merged with its parent Bhagyanagar India. Thereafter, Bhagyanagar India's copper division will be demerged into Tieramet.

 

The composite scheme of arrangement is hereby sanctioned and confirmed with the appointed date as Apr. 1, 2025, which shall be binding on all the members, employees, creditors and all other stakeholders of the companies, said the tribunal. Bhagyanagar Copper is dissolved without going through the process of winding up, the tribunal added.

 

According to the scheme, one equity share of face value of INR 2 each fully paid-up of Tieramet shall be issued and allotted by it for every one fully paid-up equity share of the face value of INR 2 each held by shareholders in Bhagyanagar India. The equity shares to be issued by Tieramet to the shareholders of Bhagyanagar India shall be listed on the National Stock Exchange of India and the BSE in accordance with listing regulations and other regulations, it said. 

 

The arrangement will help to reorganise the corporate structure by amalgamation of a closely held entity having huge business potential into a widely held listed entity and further by way of having off the business undertaking through demerger into a separate entity consisting of the same shareholders as that of the listed entity, said the scheme. It will help in unlocking the value in business for shareholders by attracting distinct strategic and financial investors, making it easier to access growth capital for the respective companies and providing investors with the flexibility to invest in relevant business according to their strategies and risk profiles, said the scheme.

 

The arrangement will help to augment funds infusion options in view of availability of wider base of investors and the market-determined price for securities in case of listed entities, said the scheme. It will create a new age entity focussing on extended producers responsibility, environmental, social and governance and other globally accepted norms and standards in view of significant global demand for copper which is on an increasing trend by the day, it said.  

 

Monday, the shares of Bhagyanagar India ended 0.8% higher at INR 373.40 on the National Stock Exchange.  End

 

Edited by Deepshikkha Bhardwaj

 

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