Announced Thu, 10 Sept · 18:23 IST
NCLT approves VXL Instruments resolution plan by NG Organics consortium
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+26.4%1-day move
₹2.84
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+26.4+38.7+52.5+59.9+67.6—————
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AI summary
NCLT approved the resolution plan for VXL Instruments by consortium of NG Organics and Mr Nitinbhai Patel with total bid of INR 7 crores. INR 6.5 crores allocated for creditor payments. Existing public shareholders stake drops from 95.28% to 5%, with 70 lakh fresh shares issued to new promoters. All old liabilities extinguished and share capital restructured. Company had negative net worth of INR 5.3 crores.
Likely market impact
Existing public shareholders heavily diluted from 95.28% to just 5%. New promoters take over; old equity holders lose almost all their stake.