PCBL to allot equity shares in Advaya Chemical Industries

PCBL Chemical Limited (PCBL) has announced the allotment of equity shares in its subsidiary, Advaya Chemical Industries Limited (ACIL), following the conversion of unlisted, optionally and fully convertible debentures (OCDs). The decision, approved at ACIL's board meetings on February 3rd and 18th, involves the conversion of ₹220 crore OCDs held by PCBL and ₹55 crore OCDs held by PCBL (TN) Limited, another wholly-owned subsidiary. Post-conversion, PCBL will continue to hold 100% of ACIL's shares, with 80% held directly and 20% via PCBL (TN). The move aligns with SEBI regulations, and aims to streamline ACIL's capital structure.