Intimation under Regulation 76 of SEBI (D&P) Regulations, 2018
Awaiting price reaction for this filing.
LEEL Electricals Limited is informing exchanges that its share capital audit reconciliation for FY2026 cannot be meaningfully presented because the company is in the middle of a complex capital restructuring exercise following insolvency proceedings. The company emerged from NCLT-ordered liquidation, with Krishna Ventures Limited acquiring it as a going concern via a sale certificate dated 12.06.2024. The restructuring involves complete cancellation of erstwhile promoter equity (zero payout), a 1:43 reduction for existing public shareholders (no payout), allotment of 5,43,011 new shares to eligible public shareholders, and a preferential issue of 1,02,60,000 equity shares to the Acquirer and its affiliates. Corporate action forms and listing applications have been filed but are still under process.
Existing shareholders face extreme dilution — old promoters are fully cancelled and public shareholders receive just 1 share for every 43 held with no cash payout. The acquirer KVL will hold a dominant stake post-restructuring, significantly altering the company's ownership structure.