Meghmani Organics Limited (BSE:543331) agreed to acquire acquire Kilburn Chemicals Limited (BSE:524699) on December 16, 2021. The Resolution proposes cancellation of all existing share capital of the Corporate Debtor and delisting of its shares from the recognized stock exchange on the Closing Date. Simultaneous with the cancellation of the existing share capital of the Corporate Debtor, the SPV and its nominees shall infuse share application money of INR 121.5 million. The transaction is subject to obtaining necessary regulatory approval including approval from the National Company Law Tribunal. The committee of Creditors of Kilburn Chemicals Limited has approved the transaction. The transaction is approved by NCLT Kolkata. The Company has received the possession of Kilburn Chemicals Limited on December 24, 2021 from the Monitoring Committee. EY acted as financial advisor to Meghmani Organics.

Meghmani Organics Limited (BSE:543331) completed the acquisition of Kilburn Chemicals Limited (BSE:524699) on December 27, 2021. Meghmani Organics Limited has made upfront payment of INR 1.31 billion including INR 121.5 million towards equity subscription.