Newspaper publication
Awaiting price reaction for this filing.
Sintex Plastics Technology Ltd has published a public announcement in Financial Express (English and Gujarati) regarding the delisting of its equity shares from BSE and NSE and the extinguishment/cancellation of all 63,61,51,296 public equity shares. This follows an acquisition plan approved by NCLT Bengaluru (orders dated November 8, 2024 and April 17, 2025) under the Insolvency and Bankruptcy Code, 2016, submitted by Durgesh Infrastructure Pvt Ltd along with affiliates Atreyi Vincom, Unicon Suppliers, and Eastern Mercantile. Public shareholders will receive NO PAYMENT as the liquidation value is insufficient to cover financial creditor debts, and the company will convert into an unlisted public limited company with new shares issued only to the existing promoter group. The shares are already suspended from trading on both exchanges. Q4 FY25 consolidated results show total income of Rs. 7,845.05 lakhs and net profit of Rs. 511.58 lakhs (FY25 PAT: Rs. 3,132.28 lakhs).
This is effectively a total loss for public shareholders, as their shares will be cancelled without any payout or delisting price. The stock will be delisted and the company will become privately controlled by the existing promoter group, leaving retail investors with no recovery and worthless holdings.