Tata Coffee, a Tata Group company, is set to finalise its merger with Tata Consumer Products (TCPL) and Tata Beverages and Foods (TBFL) on Monday, as per the company’s stock exchange filing. The record date for determining the shareholders entitled to receive TCPL’s equity shares post-demerger and amalgamation is 15 January.
The company’s BSE filing confirmed the fulfillment of conditions under Clause 29 of the Scheme, including the submission of certified copies of the order to the Registrar of Companies in form INC-28. Consequently, the Scheme’s Appointed Date and Effective Date have been stated as 1 January 2024.
Upon the scheme’s effectiveness on 1 January 2024, the company will dissolve without winding up, resulting in the vacation of all directors and key managerial personnel positions on that date.
Another BSE filing on 28 December detailed the Record Date as 15 January 2024, determining TCL’s shareholders eligible for TCPL’s equity shares under the Demerger and Amalgamation, as per Clause 13.1 and Clause 20.1, respectively.
This merger, approved in 2022 as part of Tata’s restructuring plan for the three companies, received shareholders’ approval in a vote held on 12 November. As per the scheme, Tata Coffee will merge with Tata Consumer Products and its wholly-owned subsidiary.
