Compliance Certificate u/r 74(5) of SEBI (DP) Regulations, 2018
Awaiting price reaction for this filing.
Leel Electricals Ltd has filed a Compliance Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended 31 March 2025, confirming that no physical share certificates were received for dematerialization. The RTA, Skyline Financial Services Private Limited, submitted the certificate. Separately, the filing highlights a significant capital restructuring approved by the Board on 24 December 2024, pursuant to NCLT Allahabad Bench Orders dated 21 March 2024 and 23 October 2024. The entire equity shareholding of the erstwhile Promoters/Promoter Group has been cancelled and reduced to zero without any payout. Public shareholders' holdings have been consolidated at a ratio of 1 equity share for every 43 shares held as on Record Date 22 November 2024, again without any payout. Corporate Action Forms have been filed with the depositories and are under process. Total demat shares stood at 4,01,19,390 as of 31 March 2025.
Highly negative for public shareholders. The 1:43 share consolidation without any payout effectively wipes out about 97.7% of public shareholding value. Combined with the complete cancellation of promoter shareholding following NCLT orders, this signals a major balance-sheet/restructuring event that has dramatically reshaped the company's capital structure.