The Board of Vikram Thermo (India) Limited (BSE:530477) announced the spin-off of Vikram Aroma Limited on September 17, 2022. As per the transaction, for 10 equity shares held in Vikram Thermo (India) Limited, 1 equity Share of Vikram Aroma Limited which would result into issue of 31,35,785 equity shares of Vikram Aroma Limited to the equity shareholders of Board of Vikram Thermo (India) Limited and thereby giving the shareholders of Board of Vikram Thermo (India) Limited 100% equity stake post the demerger. The transaction is approved by board of directors of Board of Vikram Thermo (India) Limited and is subject to approval of Bombay Stock Exchange, Securities and Exchange Board of India and other statutory and regulatory Authorities including those from the shareholders and creditor of the company.