Race Eco Chain Ltd (RACE) — Corporate Action | 21 September 2026

Race Eco Chain announced it received 'no adverse observations' from BSE and NSE on its draft composite scheme of arrangement involving demerger of Biomass and Restore Bag divisions into Geoeco Green Energy and Race Gateway. The observation letters confirm regulatory compliance with SEBI LODR norms, including disclosure requirements for shareholders, financials, and asset transfers. The scheme requires NCLT approval and mandates listing of new entities within 60 days of NCLT order. Key conditions include maintaining frozen shares until listing, no shareholding changes post-record date, and mandatory disclosure of valuation methods and financial impacts.