Allotment of Equity Shares as per approved Resolution plan to the Successful Resolution Applicant.
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Aanchal Ispat, which was undergoing insolvency proceedings, has implemented the Resolution Plan approved by the NCLT Kolkata bench on March 27, 2025. The old promoter group's entire 65,98,642 shares (31.64% holding) were cancelled with no payout. The company then reduced face value from Rs. 10 to Re. 0.10 and consolidated back to Rs. 10, which collapsed existing public shareholding from 1,42,55,108 shares to just 1,42,608 shares, leaving 1,938 shareholders with zero shares. After this restructuring, 26,90,723 fresh equity shares (worth Rs. 2.69 crore) were allotted to Mr. Mukesh Goel, the Successful Resolution Applicant, giving him a 95% stake while existing public shareholders are left with only 5%.
This is highly dilutive for existing public shareholders, who saw their holdings shrink to roughly 1% of the previous count. The company's paid-up capital fell from Rs. 20.85 crore to Rs. 2.83 crore, and control has fully shifted to Mr. Mukesh Goel as the new promoter. Existing shareholders should expect a sharp drop in liquidity and repricing of the stock to reflect the new capital structure.