Compliance Certificate u/r 74(5) of SEBI (DP) Regulations, 2018
Awaiting price reaction for this filing.
Leel Electricals Limited filed the quarterly Regulation 74(5) compliance certificate from its RTA Skyline Financial Services for the quarter ended 31 December 2025, confirming no physical share certificates were received for dematerialization. Total shareholding remained unchanged at 4,01,19,390 shares (NSDL: 2,90,07,045; CDSL: 1,11,12,345). More importantly, the filing recaps the major capital restructuring underway following NCLT Allahabad Bench orders (21 March 2024 and 23 October 2024) under the Insolvency and Bankruptcy Code, 2016. The old promoters' entire equity shareholding was cancelled and reduced to zero without any payout, while public shareholders were reduced to 1 share for every 43 held (record date 22 November 2024). Subsequently, 5,43,011 equity shares were proportionately allotted to eligible public shareholders to meet the 5% minimum public shareholding norm, and 1,02,60,000 equity shares were preferentially allotted to the acquirer and its affiliates/strategic investors. Corporate actions and listing applications are still under process with depositories and stock exchanges.
Although filed as a routine compliance certificate, the embedded disclosure signals a completed change of control with the former promoter group fully wiped out and a new acquirer taking a dominant stake via preferential allotment, while existing public shareholders were diluted 43:1 without payout. Shareholders should expect the share count and free-float structure to change materially once the pending corporate actions are processed.