In continuation to our Stock Exchange Intimation dated 03.04.2025, the Record Date has been updated for the purpose of Capital Restructuring of the Company from Monday, 14.04.2025 to Thursday, ....
Awaiting price reaction for this filing.
Rushabh Precision Bearings has revised its record date from Monday, 14 April 2025 to Thursday, 17 April 2025 for its capital restructuring, which is being carried out under a Resolution Plan approved by the NCLT Mumbai Bench in October 2023. The restructuring involves cancelling all existing equity shares (90,00,100 shares) and issuing fresh shares of the same total value. New promoter Real Mazon India Limited will receive 85,50,000 shares (95%) by infusing Rs. 8.55 crore, while old public shareholders will collectively receive only 4,50,000 shares (5%) on a proportionate basis. Effectively, old promoter shares (56,48,300) are fully extinguished, and public shareholders face a sharp haircut of roughly 86-87% on their holdings under the resolution plan terms.
Existing public shareholders will see their equity stake in the company drastically reduced as old shares are cancelled and replaced with a much smaller proportional allocation in the restructured entity. With a new promoter taking 95% control and the total share count remaining similar, minority investors face significant dilution and loss of value, though the company is expected to emerge from insolvency with fresh working capital.