Race Eco Chain Approves Demerger Scheme, Director Resignation, and Office Shift
Race Eco Chain Limited approved a scheme of arrangement for demerging its Biomass Division into GEOECO and Restore Bag Division into GATEWAY. Mr. Anil Kumar Behl resigned as Independent Director and was redesignated. Mr. Sanjay Kukreja appointed Audit Committee Chairperson. Corporate office shifted to Noida.
The demerger of business divisions into separate entities and changes in directorship are significant corporate actions that can impact the company's future structure, strategy, and shareholder value. The office relocation is a minor operational change.
The announcement details a significant corporate restructuring (demerger) and changes in directorship and office location. While these are important events, they do not immediately suggest a positive or negative financial impact without further information on the terms and success of the demerger.
Race Eco Chain Limited (RACE) announced the outcome of its Board Meeting held on December 15, 2025. The Board approved a scheme of arrangement for the demerger of its Biomass Division into GEOECO GREEN ENERGY LIMITED (GEOECO) and its Restore Bag Division into RACE GATEWAY LIMITED (GATEWAY). This demerger aims to create separate listed entities to unlock value and allow for focused growth.
The Board also accepted the resignation of Mr. Anil Kumar Behl as an Independent Director, effective December 13, 2025, due to personal reasons. Concurrently, Mr. Behl's designation was changed from Non-Executive Independent Director to Non-Executive Non-Independent Director, effective December 15, 2025, for a term of three years until December 14, 2028.
Furthermore, the Audit Committee has been reconstituted. Mr. Sanjay Kukreja has been appointed as the Chairperson of the Audit Committee, effective immediately, replacing Mr. Anil Kumar Behl, who will continue as a member. The company also approved the shifting of its corporate office from Ghaziabad, Uttar Pradesh, to Noida, Uttar Pradesh, effective December 15, 2025.
The demerger plan involves the issuance of new equity shares by GEOECO and GATEWAY to existing RACE shareholders. For every 100 equity shares held in RACE, shareholders will receive 113 equity shares of GEOECO and for every 25 equity shares held in RACE, they will receive 27 equity shares of GATEWAY. Both resulting companies will seek listing on BSE and NSE.
What to do with a filing like this
Race Eco Chain Limited filed this with the NSE as a statutory disclosure, categorised under demerger. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Race Eco Chain Limited. Read the original for the full detail.