BSEBlue Blends (India) LtdCriticalNegative
Announced Tue, 18 Aug · 17:16 IST
Share Cancellation and Re-allotment Under Approved Resolution Plan
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Board approved implementation of NCLT-approved Resolution Plan: cancelling all promoter shares (1.15 crore shares) with no payment, cancelling most public shares, and allotting new shares in ratio 4 for every 150 held. Also issued 50 lakh fresh shares on preferential basis to Neolite Polymer Industries (49.9 lakh) and Amit Shah (10,000).
Likely market impact
Existing promoters wiped out with zero payout. Public shareholders face massive dilution keeping only about 2.67 percent of holdings. New investors gain majority control.