Yes. Here is the current status and structure of the DCM Shriram Industries demerger:

1. What the demerger is

- DCM Shriram Industries Ltd (DCMSR) has a Composite Scheme of Arrangement involving:

a) Merger (amalgamation) of promoter holding company Lily Commercial Pvt Ltd into DCM Shriram Industries.

b) Demerger of two business verticals of DCM Shriram Industries into two separate, currently wholly owned subsidiaries:

- DCM Shriram Fine Chemicals Ltd (DSFCL) – will house the Fine Chemicals business.

- DCM Shriram International Ltd (DSIL) – will house the Rayon / Industrial Fibres + Defence & Engineering business. (scribd.com)

c) The residual listed company (DCM Shriram Industries Ltd) will retain the Sugar, Alcohol and Power businesses. (indianexpress.com)

2. Share entitlement / structure

- As per the approved scheme, shareholders of DCM Shriram Industries will receive:

- 1 share of DCM Shriram Fine Chemicals Ltd for every 1 share of DCM Shriram Industries, and

- 1 share of DCM Shriram International Ltd for every 1 share of DCM Shriram Industries (effectively a 1:1:1 structure across the three entities, with no dilution in total number of shares held by existing shareholders). (uk.marketscreener.com)

- Both DSFCL and DSIL are proposed to be separately listed on BSE/NSE after the scheme becomes effective and listing formalities are completed. (uk.marketscreener.com)

3. Approvals and current status (as on 13 December 2025)

- Board approval of the composite scheme: 14 November 2023. Appointed date for the restructuring is 1 April 2023 (for accounting and legal purposes). (indianexpress.com)

- Stock exchange (BSE/NSE) observation letters granting “no adverse observation” for filing the scheme with NCLT were issued in 2024. (business-standard.com)

- Shareholders’ and unsecured creditors’ meetings for approving the scheme were held in early 2025 pursuant to NCLT directions. (financesaathi.com)

- NCLT, New Delhi Bench has now sanctioned the composite amalgamation and demerger scheme for DCM Shriram Industries and the three group entities (Lily, DSFCL, DSIL). The order was passed on 21 November 2025 and made public in early December 2025. (livelaw.in)

- The company has since filed Regulation 30 (LODR) announcements and intimated a record date of 19 December 2025 for the purposes of the composite scheme (allotment / “OT”). (moneycontrol.com)

4. Practical implication for shareholders (conceptual, not advice)

- On implementation:

- Your existing DCMSR share effectively becomes a “sugar–alcohol–power” focused company.

- You additionally receive separate listed exposure to:

- a pure-play Fine Chemicals business (DCM Shriram Fine Chemicals Ltd), and

- a Rayon / Industrial Fibres + Defence/Engineering business (DCM Shriram International Ltd).

- This kind of structure is typically aimed at unlocking value by letting each business be valued on its own fundamentals, but the actual market impact will depend on pricing and liquidity once the new entities list (this is an example of how “special situation” / demerger trades are usually viewed, not a recommendation). (indianexpress.com)

If you want the official documents, you can refer to:

- BSE / NSE corporate announcements for “DCM Shriram Industries Ltd – Composite Scheme of Arrangement” and

- The NCLT New Delhi order dated 21 November 2025 (now disclosed by the company to the exchanges).

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