Intimation of Record Date for the purpose of Reduction and Consolidation of Equity Shares pursuant to implementation of Resolution Plan as approved by the Hon''ble NCLT Prayagraj. Kindly ....
Awaiting price reaction for this filing.
Alps Industries has fixed Friday, January 2, 2026 as the record date for two corporate actions under its NCLT-approved Resolution Plan. First, the company's equity share capital will be reduced by 99%: existing 3,91,14,100 shares of Rs. 10 face value (total Rs. 39.11 crore) will be cut to the same number of shares at Rs. 0.10 face value (total Rs. 39.11 lakh). Second, these reduced shares will be consolidated at a 10:1 ratio, so every 10 shares of Rs. 0.10 will merge into 1 share of Re. 1, bringing the total share count down to about 39.11 lakh shares. This is part of the company's revival process after going through insolvency proceedings at NCLT Prayagraj.
Shareholders will see their shareholding value significantly reduced as 99% of the equity capital is written off under the resolution plan, and their share count will also reduce by 90% due to the 10:1 consolidation. This is a typical step in an IBC resolution process where existing shareholders bear losses to revive a stressed company.