Intimation for the receipt of Certified True Copy of Order passed by Hon''ble NCLT, Mumbai Bench on July 10, 2026 in respect of Pre-Packaged Insolvency Resolution Process (PPIRP)
SABEVENTS · price
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On the reaction day the stock moved 4.4 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The NCLT Mumbai Bench has approved the Resolution Plan for SAB Events & Governance Now Media Limited under the Pre-Packaged Insolvency Resolution Process (PPIRP) framework for MSMEs, with the certified copy received on July 21, 2026. The company had defaulted on Rs. 4.53 crore to its sole financial creditor, Saturn Fund. The approved plan provides for infusion of Rs. 32.62 crore — Rs. 2.70 crore from Sri Adhikari Brothers Assets Holding Pvt Ltd and Rs. 29.92 crore from unrelated strategic and financial investors at Rs. 22.50 per share. Operational creditors will be paid 100% (Rs. 29.40 lakh), while Saturn Fund will receive Rs. 2 crore (~44% recovery) against its admitted claim. As part of the restructuring, all existing promoter equity shares stand cancelled, public shareholding will be reduced from 100 to 5 shares (a 95% wipeout), and Sri Adhikari Brothers Digital Network Pvt Ltd will be merged into the company. The company will be renamed 'Sri Adhikari Brothers Digital Network Limited' and will continue to remain listed on BSE and NSE main board.
Very negative for existing public shareholders — they will retain only 5% of their holdings (100:5 reduction) with promoters' entire equity cancelled, amounting to a near-total value wipeout. The company effectively comes under the control of the Sri Adhikari Brothers group via merger and new share allotments, with a name change. The stock is likely to face significant pressure due to massive dilution and change in business profile, though listing continuity and capital infusion provide some long-term revival hope.