Dear Sir/Madam, Pursuant to the provisions of Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, kindly be informed you that a meeting of Monitoring ....
Awaiting price reaction for this filing.
Alka India Limited has informed BSE that a Monitoring Committee meeting will be held on 12th April 2025 at 11:00 AM. The key agenda is to consider the allotment of equity shares to relevant parties as per the Resolution Plan that was approved by the NCLT, Mumbai Bench through an order dated 7th February 2025. The filing is made under SEBI Listing Regulations 29 and 30, and is signed by the Erstwhile Resolution Professional, indicating the company is in the final stages of emerging from the corporate insolvency resolution process (CIRP). This equity allotment is a critical step in implementing the approved revival plan, likely involving issuance to financial creditors, operational creditors, or the successful resolution applicant.
For shareholders, this signals that the company is on the verge of completing its NCLT-approved revival process through fresh equity issuance, which will likely lead to significant dilution of existing shareholders. The stock may see volatility around the allotment date, and existing shareholders should expect changes in the shareholding pattern post-allotment.