Controlling stakeholder Crompton decides to merge Butterfly with itself. Couldn’t proceed due to rejection from Butterfly’s public shareholders.

Target Date - May 31, 2024

Crompton had acquired controlling stake in Butterfly last year. For details check here.

Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%  by public.

Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of Butterfly would be given 22 equity shares in Crompton for every 5 shares of Butterfly.

Post transaction shareholding structure of Crompton


Rationale of the merger


Merger is subject to the requisite approvals and is expected to get completed over the next 12-14 months.

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