Extinguishment and cancellation of the entire existing equity shares of the company
Awaiting price reaction for this filing.
Sintex Plastics Technology is undergoing an acquisition through the liquidation process under the Insolvency and Bankruptcy Code (IBC), 2016. The NCLT Ahmedabad Bench passed orders on April 17, 2025, and November 8, 2025, directing the extinguishment of all existing equity shares without any payment of consideration to current shareholders. A record date of May 14, 2025, has been fixed for this capital extinguishment. Simultaneously, 1 crore new equity shares of Re 1 each will be issued to the Acquirers (led by Durgesh Infrastructure Private Limited and Others). The existing equity shares will be deemed automatically delisted from BSE and NSE, and the new shares issued to acquirers will not be listed.
Existing shareholders will lose their entire equity holdings with no compensation, as their shares are extinguished under the IBC liquidation process. The stock will be delisted from exchanges, meaning retail investors will not be able to trade these shares going forward.