Modern Insulators sets record date for Polytex share allotment

Modern Insulators Limited (MIL) has set October 31, 2025, as the "record date" for determining shareholders eligible to receive equity shares of Modern Polytex Limited (MPL). This decision follows approval from BSE Ltd received on April 30, 2024, and is in accordance with SEBI Listing Regulations.

Under the scheme of arrangement between MIL and MPL, eligible MIL shareholders whose names appear in the register of members on the record date will be allotted one fully paid-up equity share of MPL, with a face value of Rs. 10/-, for every two fully paid-up equity shares of MIL, each with a face value of Rs. 10/-, held in the company.

The announcement, dated October 13, 2025, was made by Animesh Banerjee, executive director of Modern Insulators Limited, and is a key step in the ongoing corporate restructuring between the two entities.