Privi Speciality Chemicals Limited (PSCL) announced on December 19, 2025, that its Board of Directors has approved a Scheme of Amalgamation. The scheme involves the amalgamation of Privi Fine Sciences Private Limited (PFSPL) and Privi Biotechnologies Private Limited (PBPL), both wholly owned subsidiaries, with PSCL. The amalgamation, to be undertaken under Sections 230 to 232 of the Companies Act, 2013, is subject to approvals from shareholders, creditors, the National Company Law Tribunal (NCLT), and other regulatory authorities. PFSPL operates a manufacturing unit in Lote, Maharashtra, and has acquired land in Jhagadia, Gujarat, for its 'green science' business. PBPL is engaged in the research and development of biotechnology products. PSCL is a leading integrated manufacturer, supplier, and exporter of aroma chemicals in India. The rationale for the amalgamation includes strengthening PSCL's business, enhancing operational capabilities, expanding product offerings and customer base, optimizing infrastructure, reducing costs, and improving administrative and operational efficiencies. It aims to leverage combined assets, capabilities, and expertise to create an integrated value chain and improve cash and debt management. Under the scheme, no cash consideration will be paid. Shareholders of PFSPL will receive 1 equity share of PSCL (₹10 face value) for every 135 equity shares of PFSPL (₹10 face value). Equity shares of PBPL held by PSCL will be cancelled. The transaction is considered a related party transaction, with valuations conducted by RBSA Valuation Advisors LLP and a fairness opinion from Vivro Financial Services Private Limited. The amalgamation is expected to simplify management, eliminate duplication, rationalize expenses, and contribute to future growth and shareholder value maximization.