Omkar Speciality Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on April 15, 2026.
Awaiting price reaction for this filing.
Omkar Speciality Chemicals Limited, admitted into CIRP since December 2022, held a Monitoring Committee meeting on April 15, 2026. The committee approved setting April 29, 2026 as the record date for extinguishing all existing equity shares held by both promoters and public shareholders. It also approved issuing 50 lakh new equity shares at INR 10 each to IFFAS Kshitij SPV LLP for INR 5 crore on a private placement basis. Additionally, the committee approved borrowing up to INR 20 crore from Kshitij Polyline Limited and treating earnest money deposit as part of INR 2,190 lakh resolution plan funding. Two new Key Managerial Personnel were appointed: Mr. Mahendra Kumar Jain as CFO and Mr. Kuldeep Menaria as Company Secretary.
This is a significant restructuring event - existing shareholders will see their shares cancelled without compensation as part of the NCLT-approved resolution plan. New shares issued to the identified investor will restructure the company's ownership. The stock is likely to be suspended or delisted given the share cancellation.