Intimation with respect to the Broad Step Plan for Capital Reduction, Issue and Allot shares to the Resolution Applicant (''RA'') and achieving of Minimum Public Shareholding (''MPS'').
Awaiting price reaction for this filing.
Omkar Speciality Chemicals, which has been under the Corporate Insolvency Resolution Process (CIRP) since December 5, 2022, is moving forward with its approved Resolution Plan following an NCLT order dated July 31, 2025. The company announced a broad step plan that involves reducing its entire existing share capital to NIL, issuing fresh equity shares of face value INR 10 to the Resolution Applicant (RA), and then conducting an Offer for Sale (OFS) of 5% shares by the promoter group to meet SEBI's Minimum Public Shareholding (MPS) requirement. Once the process is complete, the Resolution Applicant will hold 100% of the company's paid-up capital. This is part of the implementation steps following the IBC resolution process.
Existing shareholders will have their entire shareholding wiped out as capital is reduced to NIL, effectively extinguishing their investment. The Resolution Applicant takes complete control of the listed company, with a 5% public float created through an OFS purely to comply with SEBI listing rules — the stock is unlikely to see meaningful retail participation in the near term.