Camson Bio Technologies Limited agreed to spin-off Camson Seeds Limited.
As of March 12, 2015, Camson Bio Technologies filed the application for Scheme of Arrangement (Demerger) of seeds business to Camson Seeds Limited with the Honourable High Court of Karnataka. As of April 23, 2015, the transaction is approved by the shareholders and creditors of Camson Bio and Camson Seeds.
Record date for distribution is September 22, 2015 and the transaction is expected to be effective On September 24, 2015.
Saffron Capital Advisors Private Limited acted as fairness opinion provider to Camson Bio Technologies Limited. M/S Bahubali Gouraj & Co. acted as accountant in the transaction.