Board of Directors fixed Wednesday, 30th April, 2025 as the record date for cancellation, reduction and consolidation of the share capital of the company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Aanchal Ispat has fixed Wednesday, April 30, 2025 as the record date for implementing an NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code. The plan involves cancelling 66,92,050 promoter and promoter group shares (32.09% holding), reducing the face value from Rs.10 to Re.0.10 per share, and then consolidating shares back to a Rs.10 face value. After these steps, existing public shareholders will collectively hold 1,41,617 shares at Rs.10 each. Successful resolution applicant Mr. Mukesh Goel will additionally invest Rs.2.69 crore by subscribing to 26,90,723 fresh equity shares of Rs.10 each. Post-issue, Mr. Goel and associates will hold 95% of the company while existing public shareholders will hold just 5%. The board also reconstituted its audit, nomination and remuneration, and stakeholders relationship committees, and appointed Mr. Mukesh Kumar Agarwal as the new CFO effective April 18, 2025.
Existing public shareholders will be significantly diluted, ending up with only 5% of the restructured company against a new 95% controlling promoter. Share count and face value mechanics will change on the record date, effectively handing control of the listed entity to the resolution applicant.