Intimation of Record Date for the purpose of reduction of equity share capital of the Company in terms of Resolution Plan approved by the Hon''ble NCLT
Awaiting price reaction for this filing.
RCI Industries & Technologies Limited, which is undergoing a Corporate Insolvency Resolution Process (CIRP), has fixed Friday, 28th November 2025 as the record date for reducing its equity share capital as per the Resolution Plan approved by the NCLT New Delhi Bench. The equity shares held by the Promoter and Promoter Group will be reduced and cancelled entirely. More importantly, the equity shares held by existing public shareholders will be cancelled and extinguished, with public shareholders retaining only 5% of the fully diluted capital structure after the plan is implemented. The company had earlier intimated on 9th October 2025 about the NCLT approval of the plan in the Standard Chartered Bank (Singapore) vs RCI Industries matter.
This is highly negative for existing public shareholders — their holdings will be almost entirely wiped out, leaving them with just 5% of the post-resolution capital. The stock is likely to see extreme value destruction; only investors who participate in the fresh issuance under the resolution plan would benefit.