The Board of Rossell India Limited (BSE:533168) announced the spin-off of Rossell Techsys Limited on November 14, 2022. As per the transaction, Rossell India Limited?s shareholders will receive 1 fully paid up equity share of Rossell Techsys Limited for every 1 fully paid up equity share held. The transaction is approved by board of directors of Rossell India Limited and is subject to approval by National Company Law Tribunal, stock exchanges, The Securities and Exchange Board of India and shareholders/creditors of Rossell India Limited.

As of July 24, 2023, Shareholder meeting is scheduled to be held on August 25, 2023. Fedex Securities Limited acted as fairness opinion provider to Rossell India Limited.