Shankara Building Products Limited agreed to Spin-Off Trading Business on December 18, 2023. As per the terms, shankara shareholders will receive shares in a demerged company, for each shares they held in the company. The distribution ratio is 1:1. The demerged business has turnover of INR 40.4 billion.

The scheme is subject to necessary statutory and regulatory approvals. Shankara board has approved the scheme.