Jiya Eco-Products Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2025 ,inter alia, to consider and approve 1. To consider the cancellation ....
Awaiting price reaction for this filing.
Jiya Eco-Products Ltd has called a board meeting on May 30, 2025 to execute steps under its NCLT-approved Resolution Plan (order dated December 11, 2024) following its insolvency resolution process. The company plans to cancel and reduce its entire existing paid-up equity capital of 3,00,73,262 shares of Rs. 10 each (totaling Rs. 30.07 crore), fully extinguishing the current ISIN. It will then consolidate every 10 shares of Rs. 10 into 1 share of Rs. 100, altering the Memorandum of Association, and issue fresh shares with a new ISIN. Under the revival plan, 1,01,000 new equity shares of Rs. 100 each (95% of post-restructuring capital) will go to Resolution Applicant Mr. Pradeep Kisan Khandagale, and 5,316 shares (5%) will be allotted to existing public shareholders other than promoters.
This is a major corporate revival action after insolvency. Existing shareholders will be drastically diluted to just 5% of the new capital structure, with the new promoter taking 95% control. Share count will reduce sharply due to the 10:1 consolidation, and face value will increase from Rs. 10 to Rs. 100. Shareholders should expect significant changes in liquidity and ownership structure once the plan is executed.