Announcement under Regulation 30 (LODR) - Intimation of receipt of Delisting Approvals from BSE and NSE, Delisting being effective from September 22, 2025
Awaiting price reaction for this filing.
Hindusthan National Glass & Industries Ltd (HNGIL) will be delisted from BSE, NSE, and Calcutta Stock Exchange with effect from September 22, 2025. The delisting follows the resolution plan approved by the NCLT Kolkata Bench, under which Independent Sugar Corporation Limited (INSCO) will acquire the company through the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. Both BSE and NSE have formally notified the delisting. This marks the final step in the insolvency-driven change of control, and equity shares will no longer be tradable on the exchanges after the effective date.
Existing equity shareholders will lose the ability to trade their shares on the stock exchanges from September 22, 2025. Under IBC's resolution waterfall, equity shareholders are the last in priority, so recovery for them is typically nil or negligible. Shareholders will need to check the approved resolution plan for any exit terms or treatment of their holdings under the INSCO acquisition.