EFC (I) Limited has announced a Scheme of Arrangement for the demerger of identified leasing businesses of its wholly-owned subsidiary, EFC Limited, into three of its step-down subsidiaries: EFC Estate Marisoft 14 Private Limited, EFC Estate Marisoft 23 Private Limited, and EFC Estate Wakadewadi Private Limited. This scheme was approved by the Board of Directors of all the involved companies on December 24, 2024.

The demerger scheme involves the transfer of distinct leasing divisions to the resulting companies. These divisions include the Single Tenant Managed/Serviced Office Business, the Multiple Tenants Managed Office Business, and the Straight Lease Business, each being moved into one of the three step-down subsidiaries.

The Demerger Scheme is subject to approval from the Regional Director Mumbai, shareholders, creditors, and other regulatory authorities. Upon completion, the restructuring is expected to bring several strategic advantages, including enhanced business focus and value creation for shareholders.

The rationale for this demerger includes the need for asset-light operations, allowing each resulting company to focus on a specific leasing business model. By segregating operations into distinct units, the company aims to attract targeted investors, foster independent growth, and provide greater capital flexibility for the EFC Group.

The share exchange ratio for the demerger has been set as 4 equity shares of the resulting companies for every 25 shares held in the demerged company. This distribution applies to all three resulting entities, and EFC Limited remains the material wholly-owned subsidiary of EFC (I) Limited.

Furthermore, the resulting companies are not listed, and the demerger is expected to enhance operational efficiency by separating the businesses for better decision-making and risk management. The move will also help in ringfencing security interests and preserving lender confidence.

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