Prima Plastics Ltd Announces Scheme of Arrangement; Prima Innovation Ceases Subsidiary Status
Prima Plastics Ltd has announced a Scheme of Arrangement involving Prima Innovation Limited. The transaction resulted in the allotment of equity shares to Prima Plastics' shareholders and the subsequent reduction of Prima Innovation Limited's paid-up capital, effective April 20, 2026.On April 20, 2026, the Board of Prima Innovation Limited held a meeting and allotted 1,10,00,470 equity shares, each having a face value of INR 5, to the shareholders of Prima Plastics Ltd. The allotment was made to shareholders as of the record date, April 17, 2026, under the terms of the Scheme of Arrangement.
The Scheme also dictates a reduction of Prima Innovation Limited's paid-up share capital without any consideration. The entire pre-scheme paid-up share capital of Prima Innovation Limited, amounting to INR 1,00,000, is cancelled and reduced.
The financial details relating to the capital adjustments are summarized below:
| Parameter | Details |
|---|---|
| Pre-Scheme Capital Value | INR 1,00,000 |
| Number of Shares Cancelled | 20,000 equity shares |
| Face Value per Share | INR 5 |
| Resulting Status | Capital reduced and cancelled |
Following the allotment of equity shares and the reduction of capital, Prima Innovation Limited ceased to be a wholly-owned subsidiary of Prima Plastics Ltd. with effect from April 20, 2026.
Stock Price Movement
At the close of trade today, Prima Plastics Ltd shares settled at ₹116.92, dropping 3.96% for the day. Throughout the session, the stock showed considerable movement, trading within a range anchored between ₹115.66 and ₹122.00.Source:
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