SKF India Limited — JV/Acquisition, 26-12-2024: Demerger

SKF India Limited has approved a Scheme of Arrangement for the demerger of its Industrial Business into a wholly owned subsidiary, SKF India (Industrial) Limited. This demerger will result in two distinct entities: SKF India, focusing on the Automotive Business, and SKF Industrial, comprising the Industrial Business. The Industrial Business accounted for approximately Rs. 28,978.7 Million, or 63% of the total turnover in the last financial year, facilitating targeted management and strategic flexibility. Shareholders will receive one share of SKF Industrial for each share held in SKF India, ensuring mirrored shareholding post-demerger. This strategic move aims to unlock value and enhance operational efficiency for both companies.