The Board of Deep Industries Limited (BSE:532760) announced the spin-off of Deep CH4 Private Limited on May 26, 2018. The scheme of arrangement provides for transfer and vesting of Oil and Gas Services Undertaking from Deep Industries Limited into Deep CH4 Private Limited. Pursuant to the scheme becoming effective, Deep CH4 Private Limited shall issue shares to the shareholders of of Deep Industries and subsequently such shares shall be listed on Bombay Stock Exchange Limited ('BSE') and National Stock Exchange Limited ('NSE''). Deep CH4 Private Limited shall issue one share each for every one equity share of Deep Industries Limited. The record date of the transaction has been set to November 11, 2020. The Oil and Gas Exploration and Production business shall continue to be carried on by Deep Industries Limited. The scheme is subject to necessary approvals by the Stock Exchanges, Securities and Exchange Board of India, shareholders and creditors of the companies, Ahmedabad Bench of the National Company Law Tribunal and such other statutory and regulatory approvals' as may be required. The draft scheme of arrangement was approved by the The Board of Directors of Deep Industries Limited. As of September 30, 2019, the transaction is already approved by the shareholders of Deep CH4 and Deep Industries. As on April 23, 2020, National Company Law Tribunal approved the deal.

Deep Industries Limited (BSE:532760) completed the spin-off of Deep CH4 Private Limited on September 14, 2020.