Extinguishment of Shares : Extinguishment of 4,90,051 equity shares held by promoters. Reduction of Public Holding : proportionate reduction of public shareholding to 5% of each shareholder. Record ....
Awaiting price reaction for this filing.
Following the NCLT Mumbai Bench order dated 28 July 2025 approving a Base Resolution Plan and Scheme of Amalgamation under the Pre-Packaged Insolvency Resolution Process (PPIRP), the company is implementing major share restructuring with a record date of 20 November 2025. Promoter-held equity shares (4,90,051) will be extinguished entirely, and public shareholding will be proportionately cut down to 5% per shareholder. In exchange, the company will allot 42,65,96,580 fresh equity shares of Rs. 10 each to eligible shareholders of Lord's Mark Industries Ltd (the transferor company) in a ratio of 1.25 new shares for every 1 old share held. Share trading has been temporarily suspended pending completion of legal compliances and register updates. The filing is signed by the Erstwhile Resolution Professional, indicating this is the final execution phase of the insolvency-driven merger.
Existing shareholders will see their holdings significantly diluted as promoters are wiped out and public holdings reduced to 5%, while eligible shareholders of Lord's Mark Industries Ltd will receive 1.25 new shares for every share held. The stock will be temporarily non-tradable until the restructuring is completed, and post-restructuring the company is expected to emerge from insolvency with a fundamentally reshuffled capital structure and shareholder base.