Board of Gujarat Borosil approves composite scheme of amalgamation and arrangement

At meeting held on 18 June 2018

The Board of Gujarat Borosil at its meeting held on 18 June 2018 has approved a Composite Scheme of Amalgamation and Arrangement which, inter alia, provides for:

(i) Amalgamation of Vyline Glass Works ('VGWL'), Fennel Investment and Finance ('FIFPL') and Gujarat Borosil ('GBL') with Borosil Glass Works ('BGWL') - BGWL will be renamed as Borosil Renewables or any other name as approved by Registrar of Companies ('ROC'); and

(ii) Demerger of, inter alia, Scientific and Industrial products and Consumer products business of BGWL along with the existing business of VGWL vested in BGWL pursuant to amalgamation of VGWL with BGWL ('the Demerged Undertaking') into Hopewell Tableware ('HTPL' - a wholly owned subsidiary of BGWL) - HTPL will be renamed as Borosil or any other name as approved by ROC.

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