JTLIND: JTL INDUSTRIES LIMITED has informed the Exchange that JTL Defence Limited (Erstwhile RCI Industries & Technologies Limited) a subsidiary of the Company has received Trading Approval from the BSE Limited for 1,05,26,315 equity shares of Rs. 10/- each and same shall be available for trading from 27.04.2026
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JTL Industries' subsidiary, JTL Defence Limited (formerly RCI Industries & Technologies), has received BSE approval for trading of 1,05,26,315 equity shares of Rs. 10 each, with trading set to begin on April 27, 2026. The listing follows an NCLT-approved resolution plan under the Insolvency and Bankruptcy Code, which wiped out equity held by promoters, promoter group entities, directors, KMPs, and certain public shareholders, while the remaining public shareholders were left with just 5% of the diluted equity. JTL Industries, as the successful resolution applicant, was allotted 1,00,00,000 new shares on a preferential basis, and the company's share capital was restructured from Rs. 15.68 crore to Rs. 10.53 crore. The 1 crore preferential shares are locked in until April 30, 2027, and the stock will trade in the BSE's XT (Trade-to-Trade) segment, meaning no intraday trading is allowed.
This is a value-unlock moment for JTL Industries shareholders, as the subsidiary's listing creates a publicly traded platform for the revived defence business. However, the 1 crore preferential shares held by JTL Industries are locked in for over a year, and the Trade-to-Trade segment restriction may keep short-term trading activity muted.