Board of Directors of Emkay Taps and Cutting Tools Limited (NSEI:EMKAYTOOLS) announced the spin off of Manufacturing of threading taps and cutting tools division of Emkay Taps and Cutting Tools Limited on June 29, 2023. As per the terms, equity shareholders of Emkay Taps and Cutting Tools Limited whose names are recorded in the register of members and/ or records of the depository on the Record Date shall receive 1 equity share of the resulting company Emkay Tools Limited for every for every 1 fully paid up equity share of Emkay Taps and Cutting Tools Limited. The turnover of the Demerged Undertaking for the year ended March 31, 2023 is INR 873.3 million.

Board of Directors of Emkay Taps and Cutting Tools Limited at their meeting held on June 29, 2023 has approved the scheme of arrangement for the demerger.