Nitin Fire Protection Industries Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Nitin Fire Protection Industries Limited is currently under liquidation and has shared the NCLT Mumbai order dated 03 June 2025 with the exchange. The company was admitted to insolvency in October 2018, and after resolution plans were rejected, it was ordered into liquidation in January 2022 and sold as a going concern. Silver Stallion Limited consortium (with Vikasa India EIF I Fund and AIG Direct LLC) won the auction with a bid of about Rs. 35.16 crores, paid in full by July 2024, and received the Sale Certificate in October 2024. The successful bidder had filed an application seeking a 'clean slate' from past liabilities and various tax/concession reliefs. NCLT has partially allowed these prayers, directing the Liquidator to assist with handover of title documents, No-Due Certificates, and transition support, while leaving tax and statutory relief matters to the respective authorities.
This is largely a procedural update confirming the framework for transferring the company to its new owner. Existing shareholders face significant uncertainty as the order contemplates capital reduction of public shareholding by a ratio of 1:24 and a fresh equity issuance of 18 crore shares to the new promoter, which would massively dilute current public shareholders. The stock remains suspended from trading and the company's status may shift from 'under liquidation' to 'active' subject to regulatory approvals.