The Board of Chembond Chemicals Limited agreed to Spin-Off Construction chemicals and water technologies businesses on December 12, 2023. Chembond Chemicals Limited will demerge its construction chemicals and water technologies businesses into Chembond Chemical Specialties Limited, and will amalgamate Chembond Clean Water Technologies Limited into Chembond Chemical Specialties Limited. Subject to shareholder, creditors, and regulatory approvals, the shareholders of Chembond Chemicals Limited will get two equity shares of Chembond Chemical Specialties Limited for every one equity share held by them in Chembond Chemicals Limited.

On the scheme?s effective date, the demerger will result in two distinct listed entities aligned along business lines. As a part of the scheme, CCL will be renamed to Chembond Material Technologies Limited and will house the metal treatment chemicals, sealants, coatings, industrial adhesives, and the biotechnology businesses. Further, CCSL will be renamed to Chembond Chemicals Limited and will house the construction chemicals, water technologies, cleaning and hygiene and distribution businesses.