Dear Sir/Madam, Further to our earlier communication regarding the implementation of approved resolution plan of the Company, we wish to inform you that there has been a change in ISIN ....
Awaiting price reaction for this filing.
Alka India Limited (formerly Alka Spinners Limited) has changed its ISIN from INE061B01020 to INE061B01038 following the implementation of its approved Resolution Plan under the Corporate Insolvency Resolution Process (CIRP). As part of the plan, the entire shareholding of the old promoters and promoter group has been cancelled, existing public shareholders have faced a proportionate reduction in their holdings, and new equity shares have been preferentially allotted to the successful resolution applicant (new promoters). The new ISIN, with a face value of Re. 1 per share, has been activated by both NSDL and CDSL. The company is intimating this corporate action to BSE under SEBI Listing Regulations.
This represents a major ownership restructuring for shareholders — old promoters are completely wiped out, public shareholders are diluted, and a new promoter group is taking control of the company. The stock may see significant price action and volatility as the new management establishes itself and the company emerges from insolvency.