Annual Disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulation, 2011.
Awaiting price reaction for this filing.
BKM Industries Ltd submitted its annual disclosure under SEBI Takeover Regulations confirming promoter encumbrance status for FY25. The company underwent Corporate Insolvency Resolution Process (CIRP) and was awarded to Resolution Applicants by NCLT order dated 19 September 2023. As per the approved Resolution Plan, the entire shareholding of the erstwhile promoters is being extinguished and will stand at nil. No shares have yet been allotted to the new promoters (Dayaan Habib Farooqui, Amit Singh, Rahul Tikmani, and Jitendra Agrawal) pending corporate action for extinguishment and restructuring of public shareholding. Since the new promoters and persons acting in concert currently hold zero shares, there is no encumbrance to disclose beyond what was already reported.
This is largely a procedural compliance filing reflecting the aftermath of the company's insolvency resolution. Shareholders should note that the promoter group transition is incomplete — old promoter shares are being extinguished while new promoter (Resolution Applicant) shares have not yet been allotted. Once the pending corporate actions are completed, shareholding structure will change significantly, which may affect control and voting dynamics.